Round Rock’s proposed maximum property tax rate for fiscal year 2023-24 would allow the city to hire additional staff, should the City Council vote to adopt the rate $0.342 per $100 valuation.
The overview
The proposed tax rate is the same as last year’s. However, it exceeds the no-new-revenue rate of $0.316, meaning a public hearing must be held. The no-new-revenue rate is the rate at which the city would generate the same amount of property tax revenue as it did the previous fiscal year before taking into account newly built properties.
Meanwhile, $609 million in new property value was added to the property tax roll, which will generate an additional $2.1 million in revenue to the city. This new revenue would help pay for the 12 new public safety positions, a competitive pay program and 12 new positions as well as supporting costs for parks and the Round Rock Public Library.
