The City Council of Euless, Texas, has proposed a new property tax rate of $0.446700 per $100 valuation. As reported in a public notice by the City of Euless, this new rate would mark a decrease from the previous year's total tax rate of $0.457500 per $100 of value. The forthcoming meeting on August 19 at 7:00 PM at Euless City Hall, 201 N. Ector Drive, will be the platform for a vote on this proposition.
Interestingly, the new proposed tax rate is lower than the "no-new-revenue tax rate" of $0.448603 per $100, which is the rate that would generate the same revenue as the previous year from the same properties. The proposal also sits below the "voter-approval tax rate" of $0.447192 per $100, the maximum rate that could be set without necessitating an election for public approval. This development comes in the wake of the 86th Texas Legislature's efforts to modify the calculation of the voter-approval tax rate to curb the growth rate of property taxes in the state.
According to the City of Euless, despite the reduced tax rate, homeowners may still experience an increase in their property tax bills due to a rise in average homestead taxable value, from $272,116 in 2023 to $282,898 in 2024. This increment in taxable value is slated to lead to an uptick in the average homestead tax from $1,244.93 to $1,263.71, an increase of 1.51%.
While the overall tax levy on all properties by the City of Euless is projected to decrease by $53,808 or -0.19%, the individual impact on taxpayers will depend on their specific property values. Residents and property owners in Euless are encouraged to attend the upcoming public meeting to voice their opinions on the proposed rate. In the meantime, for assistance with tax calculations, the tax assessor for the City of Euless can be reached at (817)685-1400 or via email at [email protected].
