End run on tax rate to raise revenues by appraisal

Reporting by R.S. Gates
Story by The Legendary Jim Parks

Waco – McLennan County Commissioners will hold two public hearings to ponder raising property taxes by raising assessed valuation of property appraisals.

According to a public notice, “The average taxable value of a residence homestead in McLennan County last year was $91,468.

“Based on last year's tax rate of $0.464258 per $100 of taxable value, the amount of taxes imposed last year on the average home was $424.65.

“The average taxable value of a residence homestead in McLennan County this year is $94,272. If the governing body adopts the effective tax rate for this year of $0.454193 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $428.18. (click image below to view larger)

“If the governing body adopts the proposed tax rate of $0.464258 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $437.67.”

At this time, more than $70 million in reserve funds are held in various accounts of the budget – better than 50% of the entire FY 2012 outlay of $118 million. This compares to a 25% reserve in Coryell County, where the Commissioners' Court is contemplating a spending cut while making modest increases in salaries.

Almost $300,000 in general fund expenditures could be cut, if the Coryell County Commissioners' Court approves a proposed 2012 budget.

That would also mean that more than $800,000 would be cut from the total budget, according to the County Judge, John E. Firth.

The court says that for two years most county employees have experienced static pay, including those receiving social security and military retirement.

The proposed budget would provide an increase in the cost of living allowance for most county employees and could also provide others on fixed incomes with a small allowance to offset the rise in living costs.

The first hearing on McLennan County taxes takes place on Friday, August 19, at 9 a.m. in the Commissioners' Courtroom at the courthouse. The second hearing will be held on Tuesday, August 23, at the Courthouse, 9 a.m.