2024 Tax Increase Notice

NOTICE OF PUBLIC HEARING ON TAX INCREASE

A tax rate of $0.425000 per $100 valuation has been proposed by the governing body of City of Katy.

PROPOSED TAX RATE                   $0.425000 per $100 NO-NEW-REVENUE TAX RATE      $0.420787 per $100 VOTER-APPROVAL TAX RATE         $0.440253 per $100

The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for City of Katy from the same properties in both the 2023 tax year and the 2024 tax year.

The voter-approval rate is the highest tax rate that City of Katy may adopt without holding an election to seek voter approval of the rate.

The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Katy is proposing to increase property taxes for the 2024 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 23, 2024 AT

6:30 pm AT Katy City Hall.

The proposed tax rate is not greater than the voter-approval tax rate. As a result, City of Katy is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the City Council of City of Katy at their offices or by attending the public hearing mentioned above.

YOUR TAXES OWED UNDER ANY OF THE RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:

Property tax amount= (tax rate) x (taxable value of your property)/100

FOR the Proposal: Chris Harris, Mayor Pro Tem/Councilmember At-Large Janet Corte, Councilmember Ward A

Dan Smith, Councilmember Ward A Gina Hicks, Councilmember Ward B Rory Robertson, Councilmember Ward B

AGAINST the proposal:    None

PRESENT and not voting: William H. "Dusty" Thiele, Mayor

ABSENT:                           None

Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can easily access information regarding your property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property.

The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.

The following table compares the taxes imposed on the average residence homestead by City of Katy last year to the taxes proposed to be imposed on the average residence homestead by City of Katy this year.

For assistance with tax calculations, please contact the tax assessor for City of Katy at 281-341-3710 or FBCTaxInfo@fortbendcountytx.gov, or visit www.fbctx.gov for more information.