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Notice of 2017 Tax Year Proposed Property Tax Rate

Post Date:08/07/2017 4:35 PM

NOTICE OF 2017 TAX YEAR PROPOSED
PROPERTY TAX RATE FOR CITY OF ODESSA

 

 A tax rate of $0.493248 per $100 valuation has been proposed for adoption by the governing body of City of Odessa. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.

The governing body of City of Odessa proposes to use revenue attributable to the tax rate increase for the purpose of meeting the Fiscal Year 2018 budget.

PROPOSED TAX RATE                             $0.493248 per $100

PRECEDING YEAR'S TAX RATE            $0.470590 per $100

EFFECTIVE TAX RATE                             $0.467729 per $100

ROLLBACK TAX RATE                              $0.498188 per $100

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Odessa from the same properties in both the 2016 tax year and the 2017 tax year.

The rollback tax rate is the highest tax rate that City of Odessa may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:

Property tax amount= (rate) x (taxable value of your property)/100

For assistance or detailed information about tax calculations, please contact:

Ector County Appraisal District
1301 E. 8th Street, Odessa, TX 79761
432-332-6834
ector@ectorcad.org
www.ectorcad.org

 You are urged to attend and express your views at the following public hearings on the proposed tax rate:

 First Hearing: August 22, 2017 at 6:00 PM at Odessa College, Gregory D. Williams Hall Lecture Hall, Room 128, 201 W. University.

 Second Hearing: September 12, 2017 at 6:00 p.m. at ECISD Administration Building, Conference Room A & B, 3rd Floor, 802 N. Sam Houston

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