City of Paducah

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NOTICE OF PUBLIC HEARING ON TAX

INCREASE

A tax rate of $0.9034 per $100 valuation has been proposed by the governing body of City of Paducah.

PROPOSED TAX RATE $0.9034 per $100

NO-NEW REVENUE TAX RATE $0.8853 per $100

VOTER-APPROVAL TAX RATE $0.9185 per $100

The no-new-revenue tax rate is the tax rate for the 2020 tax year that will raise the same amount of property tax revenue for City of Paducah from the same properties in both the 2019 tax year and the 2020 tax year.

The voter-approval rate is the highest tax rate that City of Paducah may adopt without holding an election to seek voter approval of the rate.

The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Paducah is proposing to increase property taxes for the 2020 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON SEPTEMBER 1, 2020 AT 5:30 PM AT CITY HALL, 804 10TH STREET, PADUCAH, TEXAS.

The proposed tax rate is not greater than the voter-approval tax rate. As a result, City of Paducah is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the City Council of City of Paducah at their offices or by attending the public hearing mentioned above.

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

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

The members of the governing body voted on the proposed tax increase as follows:

FOR:

Richard Gregory Thad Irons

Jim Slover Jan Tucker

AGAINST:

PRESENT and not voting:

ABSENT:

Joie Truelock

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 Paducah last year to the taxes proposed to be imposed on the average residence homestead by City of Paducah this year:

Total Tax Rate (per $100 of value)

2019 2020 Change

$0.9034 $0.9034 decrease of $0.0000 OR 0.00%

Average homestead taxable value

2019 2020 Change

$38,714 $39,494 increase of 2.01%

Tax on average homestead

2019 2020 Change

$350 $357 increase of $7 OR 2.01%

Total tax levy on all properties

2019 2020 Change

$273,361 $279,948 increase of $6,587 OR 2.41%

For assistance with tax calculations, please contact the tax assessor for City of Paducah at (806) 492-3345 or cottlead@caprock-spur.com, or visit www.paducahtx.net for more information.