Taxable value in Kyle went up again this year, which is about as newsworthy as heralding there are a couple of homes for sale in Plum Creek. The news, however, is that those valuations did not increase nearly as much as they did last year.
"The certified estimate for 2016 as prepared by HaysCAD shows net taxable value within City of Kyle at $2,139,713,012 or an estimated increase of $156,433,241 (7.89%) as compared to the certified taxable value of $1,983,279,771 for 2015," city Finance Director Perwez Moheet said today.
Putting that in terms that is understandable to most homeowners, that means if you owned a home worth $127,000 this time last year you probably paid close to $742.70 in city property taxes. This year, if the city keeps the tax rate the same as last year, you will pay $801.29 in city property taxes. Needless to say, school and county taxes will also increase along the same lines,
However, that increase can’t compare to last year’s when the rate jumped a hefty17 percent, which when combined with the tax increase passed by the City Council, probably resulted in many shocked homeowners when they received their tax bills for the year.
Of course, these appraisal numbers are preliminary. Property owners are receiving their valuations in the mail and can always appeal them. "The final certified tax roll will be released by HaysCAD on July 25," Moheet said, which gives the finance director and City Manager Scott Sellers one week to make the final adjustments in their income projections for the 2016-17 fiscal year so that they can present next year’s recommended budget on time Aug. 1.
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