NOTICE OF PUBLIC HEARING

ON TAX INCREASE

                                                PROPOSED TAX RATE $0.210 per $100

                                                                NO-NEW REVENUE RATE $0.198541 per $100

                                                                VOTER APPROVAL RATE  $0.249968 per $100

                                                                DE MIMIMIS RATE  $0.341209 per $100

The no-new-revenue rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for the City of Talty, Texas from the same properties in both the 2023 and 2024 tax years. The voter approval rate is the highest tax rate the City of Talty, Texas may adopt without holding an election to seek voter approval of the rate.

The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for the City of Talty, the rate that will raise $500,000, and the current debt rate for the City of Talty. The proposed tax rate is greater than the no-new-revenue tax rate. This means the City of Talty is proposing to increase property taxes for the 2024 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 17, 2024 at 7 p.m. at 9700 CR 213.

The proposed tax rate is not greater than the voter-approval tax rate. As a result the City of Talty, Texas is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the city council of the City of Talty, Texas at their office or by attending the public hearing mentioned above.

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

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

FOR the proposal:  Brad Davis, Bobby Crowley, John Davis, Courtney McGrath, Judy Trevino

AGAINST the proposal: None

The 86th Texas Legislature modified the manner in which the voter-approval rate is calculated to limit the rate of growth of property taxes in the state.

Visit Texas.gov/Property Texas to find a link to your local property tax database on which you can easily access information regarding your property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property. The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state

The following table compares the taxes imposed on the average residence homestead by the City of Talty, Texas last year to the taxes proposed to be imposed on the average residence homestead by the City of Talty, Texas this year.

                                                2023                                       2024                                       Change

Total tax rate                     $0.210625                            $0.21                                Decrease of $0.000625, 

                                                                                                                                              or 0.002967%

Average homestead       $475,690                              $508,952                              Increase 6.9923689%

   taxable value

Tax on average                 $1001.92                              $1068.80               Increase 66.88, or 6.67%

   homestead

Total tax on all                    $736,590                             $787,186            Increase  $50,596, or 6.89%

properties

 For assistance with tax calculations, please contact the tax assessor for the City of Talty, Texas at 469-376-4689 or teressa.floyd@kaufmancounty.net, or visit https:kaufmancounty.net for more information.

Additionally, the council shall also hold a public hearing on the Fiscal 2025 budget at the September 17 meeting. More information on the budget shall be posted following a council budget workshop at 7 p.m., September 3, 2024.