At Monday’s City Council meeting, councilmen approved a proposal to adopt a tax rate of $0.5693 per $100 valuation for the tax year 2019. Total tax to be collected is $2,498,686.96, with $0.4848/100 going to Maintenance and Operation (M&O) and $0.845/100 to Interest & Sinking (Debt). The homeowner of a $100,000 home could expect to pay $569.30. The proposed increase is the first increase since September 2016 when council approved $0.5542 per $100 valuation.
A second option was no change from the previous year’s tax rate of $0.5542 per $100 valuation with total tax to be collected of $2,432,412.28. Of that amount, $0.4697/100 would go to M&O and $0.845/100 to Debt. A homeowner of a $100,000 home could expect to pay $554.20.
Another option was a reduction to the effective rate of $0.5249 per $100 valuation. The effective rate is the rate needed to bring in the same amount of revenue as the previous year based on the same properties and a homeowner of a $100,000 home could expect to pay $524.90. The total tax collected would be $2,303,813, of which $0.4404/100 would go to M&O and $0.845/100 would go to Debt.
According to the Grimes Central Appraisal District, total taxable value of property in Navasota is $438,905,139.
Public hearings will be held Aug. 26 and Sept. 3. The first reading to adopt the tax is Sept. 9 followed by the second reading Sept. 23. The public hearings and meetings will be held in City Council chambers at 200 E. McAlpine Street at 6 p.m.