City Council sets maximum proposed tax rate for FY24
The Round Rock City Council voted Thursday, Aug. 10, to set a maximum proposed property tax rate of 34.2 cents per $100 of valuation for Fiscal Year 2023-2024 (FY24).
Although the same tax rate as the previous year’s, the proposed rate is higher than the “no new revenue” rate of 31.6 cents, which would raise the same amount of revenue as last year on existing property based on this year’s property valuations. The extra 2.6 cents is needed to pay for 12 new public safety positions and competitive pay program and 12 new positions and support costs for parks and the newly opened Round Rock Public Library.
At the proposed rate, the owner of a median taxable value home of $363,396 would, on average, pay $1,243 next year in City taxes, which is an increase of $7.77 per month over the no new revenue rate. Property owners can see how proposed tax rates from various local government agencies would affect their specific property at either williamsonpropertytaxes.org for Williamson County or travistaxes.org for Travis County.
The City Council will hold a public hearing and vote on the tax rate at its Thursday, Aug. 24, meeting.
City Council is not required to ultimately adopt this rate; however, this is the maximum rate the Council may consider to meet the timing requirements under state law without restarting the notice and hearing process.
To learn more about the City of Round Rock’s proposed budget and tax rate, visit roundrocktexas.gov/budget.
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Source: City of Round Rock