Taylor County Commissioners increase property taxes for FY2020 budget

Finance

TAYLOR COUNTY, Texas (KTAB/KRBC) – Taylor County Commissioners have passed a budget for FY2020 that will increase property taxes by nearly 6%.

During a meeting Monday morning, commissioners decided unanimously to pass a 5.84% rate increase, meaning property taxes for Taylor County will now be 63.4 cents per $100 valuation.

This rate includes 56.34 cents for the County’s general operating fund, 2.00 cents for roads and bridges, and 5.06 cents for Debt Service.

The 5-cent number includes $55 million in bonded debt voters recently approved to upgrade the Taylor County Expo Center, as well as $2.1 million to get new voting machines.

For the average homeowner in Taylor County with a property valued at $136,000, taxes will increase about $48 a year or $4 a month.

The new tax rate, coupled with an increase in property added to the tax roll, will allow Taylor County to raise more than $4.1 million in taxes than FY 2019.

More than three quarters of Taylor County’s revenue is generated from property taxes.

Latest Posts:

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

KRBC News