The city of Round Rock’s maximum proposed tax rate for fiscal year 2024-25 is set at 36 cents per $100 valuation, following City Council approval Aug. 8. This represents a 2.9 cent increase of the no-new-revenue rate.
Explained
For the average homeowner with a median taxable property value of $376,169, the proposed rate would translate to an increase of almost $9 a month over the no-new-revenue rate.
The increase would go toward new public safety positions, competitive pay programs and voter-approved bond projects, according to city documents.
This figure doesn’t represent the actual tax rate for the upcoming fiscal year, but a proposed rate to establish a price ceiling. City Council could adopt a lower rate, but going above this rate would require restarting the state mandated notice and hearing process.
What’s next
The first public hearing and vote on the tax rate is at the next City Council meeting Aug. 22. Council will take a vote on the final adoption of the rate at their Sept. 12 meeting.
Residents can see how the proposed tax rate would affect their specific properties using this data base, and can dig into more of Round Rock’s proposed budget here.
