County set to hold tax rate steady
The Van Zandt County Commissioners met Aug. 29 and Sept. 1 for two public tax rate hearings for 2016.
A proposed tax rate of 0.485847 per $100 valuation has been proposed for adoption by the governing body of Van Zandt County.
The proposed tax rate exceeds the lower of the effective or rollback tax rate. County Judge Don Kirkpatrick said that state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.
“The governing body of Van Zandt County proposes to use revenue attributable to the tax rate increase for the purpose of maintenance and operating expenses,” Judge Kirkpatrick said.
The proposed tax rate is set at $0.485847 per $100 valuation. The tax rate is the same as last year’s tax rate.
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for VZC from the same properties in both the 2015 and 2016 tax year. The effective tax rate is $.4697466.
The rollback tax rate is the highest tax rate that VZC may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
