Colleyville's FY 2020-21 maximum tax rate would collect no new revenue; council to set rate at Sept. 15 meeting

Colleyville City Council set its maximum tax rate at an Aug. 4 meeting. (Courtesy Fotolia)
Colleyville City Council set its maximum tax rate at an Aug. 4 meeting. (Courtesy Fotolia)

Colleyville City Council set its maximum tax rate at an Aug. 4 meeting. (Courtesy Fotolia)

Colleyville City Council voted Aug. 4 to set a maximum tax rate of $0.310644 per $100 valuation and will vote to set the tax rate at a future meeting.

The $0.310644 per $100 valuation rate would be a no-new-revenue rate, which means it would it would raise the same amount of property tax revenue as fiscal year 2019-20. That does not mean property owners could not see marginally higher property taxes in fiscal year 2020-21, Colleyville Chief Finance Director Kyle Lester said.

"For instance, we have a large number of exemptions that are new to the tax roll, and therefore our tax base has shrunk a little bit, and therefore we may have some property owners that do have a slightly higher tax bill,” Lester said.

The Tarrant Appraisal District is also fielding a higher number of property appraisal protests from Colleyville homeowners than usual, Lester said.

“Once you take all those into consideration, our estimated net taxable value actually decreased by 0.8%, which results in a new revenue rate calculation that's a little bit higher than our current tax rate,” he said.


Council will officially adopt the FY 2020-21 tax rate at a Sept. 15 meeting. Council may vote to adopt a rate lower than $0.310644 per $100 valuation, but it may not go any higher, according to the resolution.

See historic Colleyville tax rates below:
By Gavin Pugh
Gavin has reported for Community Impact Newspaper since June 2017. His beat has included Dallas Area Rapid Transit, public and higher education, school and municipal governments and more. He now serves as the editor of the Grapevine, Colleyville, Southlake edition.


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