Local News
Tax decrease for average homeowner in Lubbock County proposed budget - fox34.com
Lubbock County homeowners are looking at a proposed roughly four percent decrease in their property tax bills for the upcoming year under the new county budget. The Commissioners Court is proposing to adopt a "no-new-revenue rate" of 32.2782 cents per $100 valuation, according to a notice on the county website.
The Commissioners Court is proposing to adopt a "no-new-revenue rate" of 32.2782 cents per $100 valuation, according to a notice on the county website. This proposal comes after figures provided by the county showed the average homesteads taxable value across Lubbock County decreased about two percent. That average value shifted from $233,528 last year to $228,404 this year.
This proposed rate directly translates to lower costs for many. Last year, the tax on the average homestead was $764.63. If adopted, the average homesteads bill would fall to $737.25, marking a $27.38 decrease. This represents a roughly four percent tax cut for the average Lubbock County homeowner.
While this budget projects a clear tax cut for the average property, your individual tax bill will reflect how your specific propertys value has changed.
Common questions
What is the proposed tax change for Lubbock County homeowners?
- Lubbock County homeowners could see a roughly four percent decrease in their property tax bills. This is part of the new county budget proposed by the Commissioners Court, aiming to lower costs for many residents.
How much could the average Lubbock County homeowner save?
- The average Lubbock County homestead's tax bill could decrease by $27.38. This would bring the average bill down from $764.63 last year to $737.25, reflecting the proposed four percent tax cut.
Why are property taxes decreasing in Lubbock County?
- Property taxes are decreasing because Lubbock County is proposing a "no-new-revenue rate" of 32.2782 cents per $100 valuation. This comes after the average taxable value of homesteads across the county decreased by about two percent this year.
Stay in the loop
Weekly Lubbock news, deals, and events. Free.