West U Taxes May Go Up, Public Hearings Scheduled
West U residents may pay more in property tax rates in 2013 even though the city’s tax rate may stay the same.
The West U City Council has set a not-to-exceed tax rate of $0.37411 per $100 valuation, which is the same as last year but higher than the effective tax rate.
The effective tax rate is the rate that would raise the same amount of revenue for the city as last year.
The city council approved the receipt of the 2012 certified appraisal roll on Monday.
The Harris County Appraisal District appraised the total value of West U at $4,432,717,622 and $4,115,298,432 of total taxable value.
Based on the city’s current tax valuation, the effective tax rate is $0.36284 per $100 valuation.
Council approved a proposed tax rate not to exceed $0.37411 per $100 valuation.
The city has to hold two public hearings for the tax increase because the proposed tax rate is higher than the effective tax rate.
The city will hold public hearings on Oct. 8 and Oct. 15 at 6:30 p.m. in the council chamber, 3800 University Blvd.
Council is expected to approve a tax rate that supports its 2013 budget on Oct. 22.