SECOND & FINAL READING: Consider adopting an ordinance setting a tax rate for fiscal year 2027 (tax year 2026) and making the appropriation for the regular operation of the City

Staff Report & Agenda Item Details

SECOND & FINAL READING: Consider adopting an ordinance setting a tax rate for fiscal year 2027 (tax year 2026) and making the appropriation for the regular operation of the City. CITY OF TEMPLE - TAXPAYER IMPACT STATEMENT: Pursuant to section 551.043(c) of the Texas Government Code (the Texas Open Meetings Act) the City is providing the below table showing, for the median-valued homestead property, a comparison of the property tax bill in dollars pertaining to the property for the current fiscal year to an estimate of the property tax bill in dollars for the same property for the upcoming fiscal year if the proposed budget is adopted and a balanced budget funded at the no-new-revenue tax rate as calculated under Chapter 26, Tax Code, is adopted.* Description FY 2025-2026 Adopted Tax Rate FY 2026-2027 Proposed Tax Rate FY 2026-2027 No-New-Revenue Rate Tax Rate per $100 Valuation $0.6999 $0.7500 $0.7541 Median Taxable Value Homestead $207,208 $190,837 $190,837 Estimated Annual Tax Bill $1,450.24 $1431.27 $1,439.10 Pursuant to HB 1522, the proposed budget is available on the City's website for review at www.templetx.gov Resolutions 5.