The outcome of this year’s budget process is an adopted budget that represents a 4.4% property tax revenue increase, down from the original 8% proposal. The resulting tax rate increase for maintenance and operations, calculated in accordance with the state Truth-in-Taxation (TnT) formula, is 2.4%, well within the new 3.5% rollback rate that will go into effect next year. The impact on a home at the average value in Bellaire of $936,582 will be $93 versus last year:
1 The City Manager revised his proposed budget upon receipt of the certified tax roll, to credit better-than-projected growth from new construction, and also to correct an error in Fire Department part-time pay and in response to Council feedback to eliminate a budget enhancement for closed captioning.
2 The proposed budget was further revised, primarily as a result of continued negotiations with our employee health insurance carrier, along with some other, minor modifications.
3 Impacts for these given appraised values are calculated assuming the homestead exemption, but not senior/disabled exemptions.
4 The $145 I previously reported was based on an average appraised value of $937,657, which decreased slightly to $936,582 upon receipt of the certified tax roll.
2 The proposed budget was further revised, primarily as a result of continued negotiations with our employee health insurance carrier, along with some other, minor modifications.
3 Impacts for these given appraised values are calculated assuming the homestead exemption, but not senior/disabled exemptions.
4 The $145 I previously reported was based on an average appraised value of $937,657, which decreased slightly to $936,582 upon receipt of the certified tax roll.
