The Texas state legislature put forth a new initiative to help promote property tax transparency.
The new site, managed by the Central Appraisal District, breaks down your tax information broken down into easy to understand charts that show you the five taxing entities and even your taxable property value.
On Tuesday, El Paso city council members voted to keep the city’s property tax rate the same for the upcoming year.
“No tax increase. Bottom line, no tax increase,” Mayor Dee Margo told reporters after the council meeting.
However, that’s not necessarily the case. While the city’s tax rate is staying the same your tax bill still could see a change.
If the market value went up and we raise the value, then even though the city left the rate the same, you will have a higher tax bill,” Dinah Kilgore, executive director of the El Paso Central Appraisal District explained. “If your market value or we change the value downwards, and the city left the same tax rate, you will get a lower tax bill.
According to city data, the average value of a single-family home increased by less than one percent over the last year.
Caption: Gabrielle Caracciolo reports on new website adds transparency to property tax calculation process
The central appraisal district appraises properties for the entire county. Kilgore said residential values have stay mostly consistent.
“On residential values, they basically stayed the same. We had a few neighborhoods that had a slight increase, but it was very slight,” Kilgore said.
Kilgore said the property values that will be used to calculate taxes for the upcoming year were determined as of January 1, 2020 and therefore the pandemic wasn’t a factor.
She said it will be another year before we can see the effects of the pandemic on property values in our area.
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