KARNES COUNTY 2014 TAX RATE PUBLIC HEARING WILL WE INVEST IN OUR COUNTY?

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Presentation transcript:

KARNES COUNTY 2014 TAX RATE PUBLIC HEARING WILL WE INVEST IN OUR COUNTY?

Karnes County Tax Rate

Texas Tax Law Property value increases cause tax rate cuts so tax revenue stays the same.

TAX RATES PROPERTY VALUES

Exception – “New Property” (improvements) not counted as an increase in property value. Reason – New Property causes increased need for county services and more strain on infrastructure.

Problem! New mineral production not treated as New Property, so values of new wells drives down tax rates. *Ignores additional needs for county services and infrastructure maintenance issues caused by production.

“Effective Rate” The tax rate that would produce the same tax revenue as last year. “Rollback Rate” The tax rate that would produce 8% more tax revenue than last year.

2013 Tax Rate Comparison

2014 Proposed Tax Rate Comparison

Karnes County Tax Payable on $100,000 Home

Where does the Tax Income come from?

Karnes County Taxable Values