Editor’s note: The numbers in the story have been corrected.
Williamson County’s taxable value increased approximately $5.8 billion in 2019, according to Williamson Central Appraisal District certified data released July 18.
The new numbers, also known as certified values, include the results of home value protests, WCAD Chief Appraiser Alvin Lankford said. Lankford said the certified values are what each taxing unit uses for its budget and tax rate hearings.
In 2019, Williamson County’s certified taxable value is expected to be $70.6 billion, an increase from $64.8 billion in 2018. This is a 8.9% increase year over year.
In 2018, the Williamson County Commissioners Court adopted a budget with a tax rate of $0.419029 per $100 valuation. The court will use the taxable value data when determining the fiscal year 2019-20 tax rate.
County Judge Bill Gravell said he will not raise the tax rate, but county residents may still see increase in their taxes as their property values increase.
In addition, Senate Bill 2, which passed during the 86th state Legislature, will limit the county and other taxing entities in their ability to raise property tax revenue by 3.5% more than the revenue of the previous year. If taxing entities would like to increase their revenue by a higher percentage, it must seek voter approval. This law means that the tax rate approved by the commissioners cannot yield 3.5% more revenue than the previous year without voter approval.
The Williamson County Budget Office will present the fiscal year 2019-20 budget to Commissioners Court on Aug. 6. The court will adopt a budget and tax rate Aug. 27. FY 2019-20 begins Oct. 1.
Find certified tax data here.