Statements required in notice if the proposed tax rate does not exceed the lower of the no-new-revenue tax rate or the voter-approval tax rate, as prescribed by Tax Code §26.061.
NOTICE OF MEETING TO VOTE ON TAX RATE
A tax rate of $0.615454 per $100 valuation has been proposed by the governing body of CITY OF DENTON.
PROPOSED TAX RATE: $0.615454 per $100
NO-NEW-REVENUE TAX RATE: $0.616399 per $100
VOTER-APPROVAL TAX RATE: $0.635860 per $100
The no-new-revenue tax rate is the tax rate for the 2020 tax year that will raise the same amount of property tax revenue for CITY OF DENTON from the same properties in both the 2019 tax year and the 2020 tax year.
The voter-approval rate is the highest tax rate that CITY OF DENTON may adopt without holding an election to seek voter approval of the rate.
The proposed tax rate is not greater than the no-new-revenue tax rate. This means that CITY OF DENTON is not proposing to increase property taxes for the 2020 tax year.
A PUBLIC MEETING ON THE PROPOSED TAX RATE WILL BE HELD ON Tuesday, September 15, 2020, at 6:30 p.m. at 215 E. McKinney Street Denton, TX 76201. A PUBLIC MEETING TO VOTE ON THE PROPOSED TAX RATE WILL BE HELD ON Tuesday, September 22, 2020, at 6:30 p.m. at 215 E. McKinney Street Denton, TX 76201.
The proposed tax rate is also not greater than the voter-approval tax rate. As a result, CITY OF DENTON is not required to hold an election to seek voter approval of the rate. However, you may express your support for or opposition to the proposed tax rate by contacting Denton City Council of CITY OF DENTON at their offices or by attending the public meetings mentioned above. Due to COVID-19 precautions, members of the public will not be able to attend the meetings mentioned above in-person. Members of the public will be able to participate in the meetings by calling (940) 349-7800 the day of the meetings beginning at 6:00 p.m. or by submitting a virtual white card pursuant to the process outlined at https://www.cityofdenton.com/en-us/government/open/agendas-minutes.
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