Because the city received a disaster declaration, by state law they can increase property tax rate 8%, without an election.
KERRVILLE, Texas — As if some folks in Kerrville didn’t have enough to worry about, the city may be raising their taxes.
Because the city received a disaster declaration, by state law they can increase property tax rate 8%, without an election.
Kerrville city council talked about it Tuesday night. They were told they could always decrease that 8% in the next few weeks, but they can’t raise it to that 8% if they didn’t approve the resolution.
As the city finalizes its budget, based on projected loss from the flood, one council member said if they possibly do this, they weren’t going to maintain their general fund balance to pay for crucial infrastructure and just general needs for the city.
Raising property taxes to 8% would generate an additional $471,000. It raises the rate to about 57 cents per $100 of assessed value. During the meeting, they calculated it would be on average $72 a year.
For affected families, who already applied or have had their property value decreased, the mayor said it wouldn’t make an impact, despite the increase.
The 8% disaster tax rate is temporary and can only last for three years, before going back down to the original rate before the flood. The city is planning on hosting a workshop so residents can get their questions answered.