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Amarillo staff outlines property‑tax options, voter‑approval rate and effect of state law
Summary
CFO and city staff explained how state law (SB2) and appraisal changes determine the city’s no‑new‑revenue and voter‑approval tax rates; staff recommended setting the voter‑approval rate as the ‘not to exceed’ number for notices while final figures will follow appraisal certification.
Amarillo finance staff walked council through the technical calculation of the city’s property‑tax options under state law and the deadlines for public notices and hearings. Chief Financial Officer Laura Storrs told council the city’s no‑new‑revenue rate — the rate that would generate the same revenue on the same properties as the current year — was calculated at about 0.37355 (37.355¢). Storrs said the voter‑approval tax rate, the higher threshold that triggers the state’s automatic election if exceeded, is about 0.4307 (43.07¢) using current preliminary certification from the appraisal district.
Storrs reviewed key legal…
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