Benbrook City Council will hold a public hearing on the proposed property tax rate for fiscal year 2020-21 (tax year 2020) at their August 20 meeting, 7:30 p.m. at City Hall, 911 Winscott Road.
The current fiscal year rate is $0.627770 per $100 valuation of property. The proposed new rate is $0.622500 per $100, which is lower than the current rate.
In determining property tax rates, City leaders must consider two figures:
The voter-approval rate is the highest tax rate that a City may adopt without holding an election to seek voter approval. That figure is $0.623936 per $100.
Because the proposed rate is below this figure, the City is not required to hold an election.
The no-new-revenue tax rate is the tax rate that will raise the same amount of property tax revenue from the same properties in both the 2019 and 2020 tax years. That figure is $0.601195 per $100.
The City’s proposed rate is above the no-new-revenue rate. This means that while the proposed new tax rate for property owners is lower than the current rate, the actual revenue received by the City will increase.
City Council members voted unanimously to propose the rate at their August 6, 2020 meeting.
Citizens are encouraged to participate in the public hearing conducted at the regular City Council meeting on August 20. Please note that, due to the ongoing COVID-19 pandemic, council meetings are currently being conducted by telephone conference. Citizens wishing to attend the meeting will be required to wear a mask and follow social distancing protocols. To submit a comment, citizens may also choose to call
817-443-6248 or 866-894-9011 during the public comment portion of the agenda.
The meeting will be broadcast live on the City website and on Spectrum channel 190.
Homeowners can calculate their property tax amount using this formula:
Tax rate x taxable value of your property / 100 = property tax
In 2019, the Texas State Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.
A comparison of FY 2019-20 and proposed FY 2020-21 taxes:
|Total tax rate (per $100 of value)|| $0.627770||$0.622500||$(0.00527)|
|Average homestead taxable value||$203,763||$210,170||$6,407|
|Tax on average homestead||$1,279||$1,308||$29|
|Total tax levy on all properties||$14,399,021||$14,798,596||$399,575|
View the Notice of Public Hearing on Tax Increase
View the Notice to Adopt Tax Rate
View the Notice of Public Hearing On Proposed Budget
View the Proposed FY 2020-21 Budget
Tarrant County Breakdown of Your Property Taxes
Investopedia article on how property taxes are calculated