Notice of Public Hearing on Tax Increase
August 4, 2008
McLennan Community College will hold two public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 5.00%. Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The first public hearing will be held on August 14, 2008, at 6:00 p.m. at The Northwood House at McLennan Community College, 1609 College Drive, Waco, Texas.
The second public hearing will be held on August 19, 2008, at 6:30 p.m. at the Waco Convention Center, Huaco Room, Waco, Texas.
The members of the governing body voted on the proposal to consider the tax increase as follows:
FOR: Mr. Randy Cox
Mrs. Pauline Chavez
Mr. Don Hay
Mr. K. Paul Holt
Dr. James Lewis
Mr. Bob Sheehy, Jr.
AGAINST: None
PRESENT and not voting: None
ABSENT: Mrs. Geneva Watley
The average taxable value of a residence homestead in McLennan County last year was $80,493. Based on last year's tax rate of $.153002 per $100 of taxable value, the amount of taxes imposed last year on the average home was $123.16.
The average taxable value of a residence homestead in McLennan County this year is $87,471. If the governing body adopts the effective tax rate for this year of $.143937 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $125.90.
If the governing body adopts the proposed tax rate of $.151134 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $132.20.
Members of the public are encouraged to attend the hearings and express their views.