Lone Star to see property tax increase

Property owners in Lone Star will see a two-cent increase in their 2016 city property tax rate. Following a public hearing on the city budget Aug. 18, the city council held its regular meeting and formally approved the tax rate increase from .505414 to .523583. This means, for example, on a property appraised at $100,000, the city property tax would increase from $505.41 to $523.58. “However, it’s important to point out,“ said Mayor Karl Stoermer, “that this doesn’t necessarily mean that everyone’s taxes will go up. In some cases, a property might be appraised for less than it was last year. So, while the rate has gone up, the actual amount of tax could still go down.” For example, if that same $100,000 property was appraised at $96,000 for 2016, the tax would actually be lower than last year, even with the rate increase.

For several years, Lone Star has seen a decline in tax revenue, but has not raised the tax rate to compensate for this loss. This increase to $0.523583 is based on what is known as the “effective tax rate”, which is the rate the tax appraisal district advises is needed in order to collect the same amount of revenue as the preceding year.

In Texas, tax appraisal notices are sent in April, and tax collection typically begins in October. Property taxes for 2016 are due on or before January 31, 2017. According to the Morris County Appraisal District, “County Appraisal Districts appraise the value of your property. Appraisal Review Boards settle disputes between taxpayers and property owners. Local Taxing Units [such as city councils and school districts] set budgets and property tax rates. County Assessor Collectors collect taxes from property owners and distribute the funds to the local taxing units.” For more information, visit www.morriscad.com, or the Morris County Appraisal District Office at 501 Crockett Street in Daingerfield (903) 645- 5601.