NOTICE OF PUBLIC HEARING ON TAX INCREASE CITY OF BANDERA
PROPOSED TAX RATE $ 0.470000 per $100 NO-NEW-REVENUE TAX RATE $0.443885 per $100 VOTER-APPROVAL TAX RATE $0.461724 per $100 DE MINIMIS RATE $0.734071 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 Bandera from the same properties in both the 2023 tax year and the 2024 tax year. The voter-approval tax rate is the highest tax rate that City of Bandera may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Bandera exceeds the voter-approval tax rate for City of Bandera. The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Bandera, the rate that will raise $500,000, and the current debt rate for City of Bandera. The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Bandera is proposing to increase property taxes for the 2024 tax year. A public hearing on the proposed tax rate will be held on August 27, 2024, at 5:30PM at Bandera City Hall at 511 Main Street, Bandera TX 78003.
The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate. However, the proposed tax rate exceeds the rate that allows voters to petition for an election under Section 26.075, Tax Code. If the City of Bandera adopts the proposed tax rate, the qualified voters of the City of Bandera may petition the City of Bandera to require an election to be held to determine whether to reduce the proposed tax rate. If a majority of the voters reject the proposed tax rate, the tax rate of the City of Bandera will be the voter-approval tax rate of the City of Bandera
_/s/ Jill Shelton________
Jill Shelton, City Secretary
The City Council for the City of Bandera reserves the right to adjourn into Executive Session at any time during the course of this meeting to discuss any of the matter listed above, as authorized by Texas Government Code §551.071 (Consultations with Attorney), §551.072 (Deliberations about Real Property), §551.073 (Deliberations about Gifts and Donations), §551.074 (Personnel Matters), §551.076 (Deliberations about Security Devices) and §551.086 (Economic Development). There may be a quorum of Economic Development Corporation/Planning and Zoning member at any regularly scheduled City Council Meeting. This facility is wheelchair accessible and handicapped parking is available. Requests for accommodations or interpretive services must be made 48 hours prior to the meeting. Please contact the City Secretary at (830) 796-3765. This agenda is posted in accordance with the Texas Government Code, Chapter 551 on August 22, 2024.