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County tax rate, budget hearing Monday
By Dan Eakin, deakin@starlocalnews.com
A public hearing on the proposed Collin County tax rate and budget for the coming fiscal year is scheduled for 6 p.m. Monday when the Collin County Commissioners Court meets in regular session on the fourth floor of the Jack Hatchell Administration Building at 2300 Bloomdale Road in McKinney.
The commissioners court ordinarily meets at 1:30 p.m. Mondays, but occasionally schedules a night meeting.
Monika Arris, Collin County director of budget and finance, said she is putting on the final touches for the proposed budget this week, which will be submitted to the commissioners Monday and voted
After the proposed budget has been presented to the commissioners, it will be published at www.co.collin.tx.us. The FY 2012 adopted budget is already on the county website.
Also, on Sept. 17, the commissioners will vote to set the tax rate, which is expected to be 24 cents per $100 valuation. If approved, it will be the 20th consecutive year in which there has been no tax rate increase for the county.
Arris said the average home in the county for tax year 2012 is valued at $230,218, according to statistics compiled by the Central Appraisal District of Collin County.
With the tax rate at $0.24 per $100 valuation, and a 5 percent homestead exemption, the average homeowner will pay $524.90 in county taxes for the 2012 tax year.
"This is a decrease by $1.66 from last year," she said.
The effective tax rate is a calculated rate that would provide Collin County with about the same amount of revenue it received in the year before on properties taxed in both years.
The rollback rate of $0.25 per $100 valuation provides Collin County with about the same amount of tax revenue it spent the previous year for day-to-day operations, plus an extra 8 percent increase for those operations, in addition to sufficient funds to pay debts in the coming year.
"The Truth-in-Taxation calculation does not take into account the taxable portion of the homes that are frozen," Arris said. "We are required by law to adopt the Debt Service Rate published in the Effective Tax Rate notice."
One reason why no increase in the tax rate has been necessary in recent years is taxable values have continued to climb.
The certified adjustable taxable values for 2013 have been determined to be $74.6 billion, compared to $74.5 billion in 2012 and $72.4 billion in 2011. In 2007, the taxable values were listed at $68.5 billion.
In other action at Monday night's meeting, the commissioners are expected to vote on whether to establish clerical positions for Justices of the Peace in Precincts 1 and 2, and will vote on the annual contract with the Collin County Community Supervision and Corrections Department (CSCD).
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