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Georgetown Finance Department

Property Taxes

Combined Tax Rate
City of Georgetown $0.401000
Williamson County $0.4008460
Georgetown ISD $1.2310000

Property Tax Per Capita

Revenues – Property Tax 2018 2019 2020 2021 2022
Total Property Tax 28,033,429 30,561,661 33,808,580 36,886,143 40,220,000
Population 60,642 62,500 72,589 79,604 81,942
Per Capita Revenue 462 489 466 463 491

Property Tax Budgeted Revenue

Fiscal Year 2020 2021 2022
Maintenance and Operation Revenue 14,900,000 15,976,505 17,100,000
Debt Service Revenue 17,000,000 18,750,000 23,120,000

 

Assessed Value

Assessed Value Amount
FY2018 7,304,885,572
FY2019 7,830,350,417
FY2020 8,691,478,656
FY2021 9,174,336,112
FY2022 10,992,195,164

Components of Tax Rate

Fiscal Year Operations & Maintenance Debt Service
FY2018  0.19266 0.22734
FY2019 0.19955  0.22045
FY2020 0.19547 0.22453
FY2021 0.19318 0.22481
FY2022 0.161319 0.239681

Truth in Taxation

Truth in Taxation Amount
No New Revenue Rate 0.325982
Voter Approval Rate 0.40125
Adopted Rate 0.401

The adopted rate is 40.1 cents per $100 valuation, and represents one of 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 40.1 cents would produce $401 in property tax revenue. If in the following year, the home is now valued at $105,000, the effective rate would be 38 cents to produce the same $401 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 40.1250 cents for FY2022.

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