This comes as the new financial year is set to begin Oct. 1.
What you need to know
City staff proposed a total tax rate of $0.385928 per $100 of valuation, made up of a $0.252808 per $100 maintenance and operations rate to generate revenue for the general fund, and a $0.13312 per $100 rate to fund debt payments, such as bonds.
The details
The proposed FY 2025-26 tax rate is $0.385928 per $100, which results in the average homeowner in Hutto paying $1,335.12 in property taxes, as previously reported by Community Impact. City documents state this rate represents a 7.7% increase in revenue to be raised for the city, an amount just over $1.5 million.
What else?
The approved rate of $0.385928 per $100 of valuation is $0.013625 lower than the rate of $0.399553 per $100 passed for the 2024-25 financial year.
City officials stated that this rate will raise more tax revenue for the city despite being lower than that of the previous year, with new properties added to the tax roll. It represents a 5.11% decrease in the tax rate, said Mayor Mike Snyder, and will lower taxes paid for maintenance and operations on a $100,000 home by $13.62 for the upcoming tax year.
