Amarillo Property Tax Rate Not Going Up But Values Are
Homeowners never like to see a property tax increase. One is not forthcoming but they'll still be out of pocket more regardless.
The City of Amarillo is hosting two public meetings regarding the tax rate on August 30th and September 6th. The meetings will help explain the dichotomy between the rate staying the same while homeowners will be paying a little more.
The current tax rate is $0.35072. The rate will be drawing more cash from property owners than last year due to property values rising across the city. Property owners will pay around 3.4% more.
Development in the community is credited for bumping property values up.
The next opportunity for property taxes to rise by percentage comes with the November 8th election and the seven municipal bond issues on the ballot. If all seven issues are approved by voters the property tax rate will got up $0.4 per $100 dollars valuation each of the next five years.