Council Conducts Final Public Hearing on Tax Revenue Rate; Property Values Noted | Ksst Radio

Council Conducts Final Public Hearing on Tax Revenue Rate; Property Values Noted

There were two that addressed the Sulphur Springs City Council during the public hearing last week on tax revenue increase for 2017 but Tuesday, August 29th, no one was present to address the council in the second and final public hearing on the tax revenue rate.

In comments to the council, City Finance Director Peter Karsten noted that the Texas Legislature requires cities, counties, schools, and other taxing entities to conduct two public hearings each year when tax revenues increase either by tax increase or property value increase. He noted that the state is not required to conduct such hearings when tax revenue increases for the state due to more received from sales that affect sales tax revenues.

Mayor John Sellers questioned Chief Appraiser Cathy Singleton with the Hopkins County Tax Appraisal District regarding the total property values in the state.  As reported by KSST News recently:

For the City of Sulphur Springs the total market value is $1,152,212,307. Exempt property totals $148,524,481 and value lost to agricultural usage is $19,934,180. Disabled veterans exemptions total $852,370 and exemption for over 65 is $12,824,320. Lost to tax abatement is $48,368,177. Other losses and exemptions leave a net taxable value for 2017 of $915,445,602 compared to a net of $892,859,072 for 2016. New construction in the city of Sulphur Springs during 2017 valued at $3,581,200 is included in the net taxable value.

The council will conduct two meetings in September to approve the 2017 tax rate and budget.

Author: Jimmy Rogers

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