Notice of Public Hearing on Tax Rate – September 18, 2024
The Fort Bend County Municipal Utility District No. 26 will hold a public hearing on the proposed tax rate for the 2024 tax year. This hearing provides an opportunity for residents to understand how the proposed rate may affect their property taxes and the overall distribution of the tax burden.
Meeting Details:
- Date: September 18, 2024
- Time: 5:30 PM
- Location: 14730 Fondren Road, Missouri City, TX 77489
Tax Rate Analysis
The proposed tax rate for 2024 is $0.72115 per $100 of assessed value, which reflects a decrease from last year’s rate of $0.73593 per $100. This reduction of $0.01478 per $100 represents a 2.00% decrease in the tax rate. However, due to an increase in the average appraised value of residences, the taxes on the average homestead are expected to rise.
Key Points:
- Average Homestead Value: Increased from $209,566 last year to $230,970 this year.
- Tax on Average Homestead: If the proposed rate is adopted, taxes on the average residence will increase from $1,542.26 to $1,665.64, which is an annual increase of $123.38 or 8.00%.
Important Information
While the tax rate has decreased, the rise in property values means many homeowners will still see an increase in their overall tax bill. The district emphasizes that the distribution of tax burdens will vary depending on changes in individual property values compared to the district as a whole.
Find Out More
For more detailed information on the proposed tax rate and how it may affect you, please refer to the Notice of Public Hearing on Tax Rate document. This document provides a comprehensive comparison of last year’s and this year’s tax rates, details on exemptions, and taxpayer rights, including the right to petition for an election if tax increases exceed eight percent.
Visit Texas.gov/PropertyTaxes to access more information about your property taxes, including details about the proposed rates and scheduled public hearings for each taxing entity.