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Georgetown Finance Department

Property Taxes

Combined Tax Rate
City of Georgetown $0.418
Williamson County $0.458719
Georgetown ISD $1.3071

Property Tax Per Capita

Revenues – Property Tax 2016 2017 2018 2019 2020
Total Property Tax 23,468,869 25,442,837 28,033,429 30,561,661 33,808,580
Population 56,208 58,723 60,642 62,500 72,589
Per Capita Revenue 418 433 462 489 466

Property Tax Budgeted Revenue

Fiscal Year 2019 2020 2021
Maintenance and Operation Revenue 13,850,000 14,900,000 15,976,505
Debt Service Revenue 15,300,000 17,000,000 18,750,000

 

Assessed Value

Assessed Value Amount
FY2017  6,709,678,105
FY2018 7,304,885,572
FY2019 7,830,350,417
FY2020 8,691,478,656
FY2021 9,174,336,112

 

Components of Tax Rate

Fiscal Year Operations & Maintenance Debt Service
FY2017 0.19666 0.22734
FY2018  0.19266 0.22734
FY2019 0.19955 0.22045
FY2020 0.19547 0.22453
FY2021 0.19318 0.22481

Truth in Taxation

Truth in Taxation Amount
No New Revenue Rate 0.389738
Voter Approval Rate 0.418013
Adopted Rate 0.418

The adopted rate is 41.8 cents per $100 valuation, and represents the lowest rate in the greater Austin MSA with a population over 20,000. The no new revenue tax rate is the rate the City would need to charge in order to produce the same amount of property tax revenues as last year while using the new valuations of the current year. Typically, property values appreciate from year to year. In most years, the increased value of a property means a lower tax rate could produce the same amount of revenue. For example, a home valued at $100,000 with a tax rate of 41.8 cents would produce $418 in property tax revenue. If in the following year, the home is now valued at $105,000, the effective rate would be 39 cents to produce the same $418 worth of revenue. The no new revenue rate enables the public to evaluate the relationship between taxes for the prior year and for the current year. The voter approval rate is the maximum tax rate the City can set before the taxpayers can petition for an election to reduce the tax rate. After adjustments for debt calculations, the voter approval rate is equal to the effective rate times 3.5%, or in this example 41.8013 cents for FY2021.

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