Hi everyone! Anyone curious why the city rate went up $.01 per $100 and the cost is $60 per household and the LTISD is wanting $.02 per $100 and the cost is still $60 per household? I did and here's what I found out.
The city uses a flat home valuation from the Travis County TCAD to bse their calculations on. The school district is using approximately the same valuation but is subtracting 3 adjustments from the value before applying the tax increase. They subtract the 10% cap, the homestead exemption and another exemption of about $15K to come up with a final average valuation of $298,904. So if you don't get one or more of these exemptions, your amount could be higher.
The Council will meet in Special Session Friday, October 16, 2009 and will go into Executive session to work on personnel issues, namely hiring a new Police Chief. I am attaching the Agenda
Thanks for LOOKING! More to come as the week unfolds!
Joe Bain
lakeway@bain.us
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