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NOTICE OF PUBLIC HEARING ON TAX INCREASE A tax rate of $0.375187 per $100 valuation has been proposed by the governing body of City of Bellmead. PROPOSED TAX RATE $0.375187 per $100 NO-NEW-REVENUE TAX RATE $0.351027 per $100 VOTER-APPROVAL TAX RATE $0.371713 per $100 DE MINIMIS RATE $0.443543 per $100 The no-new-revenue tax rate is the tax rate for the 2021 tax year that will raise the same amount of property tax revenue for City of Bellmead from the same properties in both the 2020 tax year and the 2021 tax year. The voter-approval rate is the highest tax rate that City of Bellmead may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Bellmead exceeds the voter-approval rate for City of Bellmead. The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Bellmead, the rate that will raise $500,000, and the current debt rate for City of Bellmead. The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Bellmead is proposing to increase property taxes for the 2021 tax year. A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 14, 2021 AT 6:30 pm AT Bellmead City Hall Council Chambers, 3015 Bellmead Dr, Bellmead, TX 76705. The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate. However, the proposed tax rate exceeds the rate that allows voters to petition for an election under Section 26.075, Tax Code. If City of Bellmead adopts the proposed tax rate, the qualified voters of the City of Bellmead may petition the City of Bellmead to require an election to be held to determine whether to reduce the proposed tax rate. If a majority of the voters reject the proposed tax rate, the tax rate of the City of Bellmead will be the voter-approval tax rate of the City of Bellmead. YOUR TAXES OWED UNDER ANY OF THE RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS: Property tax amount= (tax rate) x (taxable value of your property)/100 FOR the proposal: Gary Moore James Cleveland Bryan Winget Karen Coleman Jasmine Neal AGAINST the proposal: PRESENT and not voting: ABSENT: Travis Gibson The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state. The following table compares the taxes imposed on the average residence homestead by City of Bellmead last year to the taxes proposed to be imposed on the average residence homestead by City of Bellmead this year. 2020 2021 Change Total tax rate (per $100 of value) $0.377854 $0.375187 decrease of $-0.002667, or -0.71% Average homestead taxable value $92,100 $101,323 increase of $9,223, or 10.01% Tax on average homestead $348.00 $380.15 increase of $32.15, or 9.24% Total tax levy on all properties $1,862,792 $2,011,161 increase of $148,369, or 7.96% For assistance with tax calculations, please contact the tax assessor for City of Bellmead at 254-757-5130 or email@example.com, or visit www.co.mclennan.tx.us for more information.