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Notice of 2014 Tax Year Proposed Property Tax Rate for City of Lubbock

Start Date: August 18, 2014, 12:00 PM
End Date: September 13, 2014, 12:00 AM

A tax rate of $0.52740 per $100 valuation has been proposed for adoption by the governing body of City of Lubbock. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.

 

PROPOSED TAX RATE

$0.52740 per $100

 

PRECEDING YEAR'S TAX RATE

$0.50441 per $100

 

EFFECTIVE TAX RATE

$0.49750 per $100

 

ROLLBACK TAX RATE

$0.53768 per $100

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Lubbock from the same properties in both the 2013 tax year and the 2014 tax year.

The rollback tax rate is the highest tax rate that City of Lubbock may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

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

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

For assistance or detailed information about tax calculations, please contact:

 

Tim Radloff - Chief Appraiser/Tax Assessor Collector

 

City of Lubbock

 

2109 Avenue Q, Lubbock, Texas

 

(806)776-2208

 

etrinfo@lubbockcad.org

 

www.lubbockcad.org

You are urged to attend and express your views at the following public hearings on the proposed tax rate:

First Hearing: August 28, 2014 at 5:30 pm at City Hall, 1625 13th Street, Lubbock, TX 79401.

Second Hearing: September 4, 2014 at 1:30 pm at City Hall, 1625 13th Street, Lubbock, TX 79401.