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NOTICE OF 2019 TAX YEAR PROPOSED PROPERTY TAX RATE FOR CITY OF RICHARDSON

Post Date:08/15/2019 3:00 AM

A tax rate of $0.62516 per $100 valuation has been proposed for adoption by the governing body of City of Richardson. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.

The governing body of City of Richardson proposes to use revenue attributable to the tax rate increase for the purpose of public safety initiatives, street and alley rehabilitation initiatives, information technology and traffic initiatives, equipment replacement and economic development.

  PROPOSED TAX RATE $0.62516 per $100
  PRECEDING YEAR'S TAX RATE $0.62516 per $100
  EFFECTIVE TAX RATE $0.58991 per $100
  ROLLBACK TAX RATE $0.62517 per $100

 
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for the City of Richardson from the same properties in both the 2018 tax year and the 2019 tax year.

The rollback tax rate is the highest tax rate that the City of Richardson may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

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

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

For assistance or detailed information about tax calculations, please contact:

  Sheena Jackson
  City of Richardson Tax Assessor-Collector
  411 W. Arapaho Road, Richardson, Texas 75080
  972-744-4152
  AskRichardsonTax@cor.gov
  www.cor.net

 
You are urged to attend and express your views at the following public hearings on the proposed tax rate:

First Hearing: August 19, 2019 at 7:00 PM at 411 W. Arapaho Road, Richardson, Texas 75080.

Second Hearing: August 26, 2019 at 6:00 PM at 411 W. Arapaho Road, Richardson, Texas 75080.

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