City, County to hold public hearings on proposed increased property tax bills
Because the City of Lubbock and Lubbock County's proposed budgets will draw more property tax revenue on existing properties, there are required public hearings next couple of weeks.
County commissioners want to add more sheriff's deputies. And, at a meeting recently, blame was placed on unfunded state mandates.
The current proposal would maintain the same property tax rate as last year, at 34.8086 cents per $100 valuation. This is higher than the effective rate, which is 33.9978 cents per $100 valuation. The effective rate shows what would generate roughly the same revenue from properties on the appraisal rolls last year and this year.
If the current proposal is approved, homeowners would pay more, on average, because of appraisal values climbing. For a home valued at $150,000, it would be an increase of $13 for the year.
You can give your feedback to commissioners at a hearing 10:30 a.m. Monday, Aug. 26, in the commissioner's courtroom. It's on the fifth floor of the Lubbock County Courthouse.
Then, on Tuesday, the first public hearing for the city's proposed budget and tax rate will be held.
The proposal is to set the city's property tax rate a cent higher than it was set last year. The city would draw nearly $7 million more in revenue; roughly $2 million of that is from new property added to the appraisal rolls.
City leaders say the higher rate is needed for public safety improvements, including three police substations, a new property room for LPD and a new municipal court.
The proposed rate is 55.8 cents per $100 valuation. For a $150,000 home, city projections show the average increase in property taxes paid to the city will increase about $45 for the year.
This tax rate is about four percent above the effective rate of 53.615 per $100 valuation.
The city's public hearing is 4:30 p.m. Tuesday, Aug. 27, at City Hall.
There will be a second hearing for both the city and county the following week.