Hearing on Proposed Tax Rate
NOTICE OF 2014 TAX YEAR PROPOSED PROPERTY TAX RATE FOR CITY OF ODESSA
A tax rate of $0.475845 per $100 valuation has been proposed for adoption by the governing body of City of Odessa. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate. In addition, two public hearings will be held on the Tax Revenue Increase.
PROPOSED TAX RATE $0.475845 per $100
PRECEDING YEAR’S TAX RATE $0.512750 per $100
EFFECTIVE TAX RATE $0.452284 per $100
ROLLBACK TAX RATE $0.475850 per $100
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Odessa from the same properties in both the 2013 tax year and the 2014 tax year.
The rollback tax rate is the highest tax rate that City of Odessa may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:
Property tax amount = (rate) x (taxable value of your property) / 100
For assistance or detailed information about tax calculations, please contact:
(Captain Watchdog says: Do NOT gripe to the appraisal district about your TAXES! The people directly responsible for YOUR individual tax bill is the elected officials in EACH TAXING ENTITY! They have been given the power to compensate for increased home values by lowering the tax rate EACH YEAR if the so CHOOSE. If you are paying a higher tax bill it is because they (elected officials) desire to make you pay more for their unwillingness to make hard/tough budget decisions!)
You are urged to attend and express your views at the following public hearings:
1st Hearing on Tax Revenue Increase: 08/26/14 at 6:00 p.m. at 5th Floor, City Hall, 411 W. 8th Street
2nd Hearing on Tax Revenue Increase: 09/09/14 at 6:00 p.m. at 5th Floor, City Hall, 411 W. 8th Street
1st Hearing on Proposed Tax Rate: 09/16/14 at 6:00 p.m. at 5th Floor, City Hall, 411 W. 8th Street
2nd Hearing on Proposed Tax Rate: 09/23/14 at 6:00 p.m. at 5th Floor, City Hall, 411 W. 8th Street