Aaron Rector, Director of Administrative Services for the City of Keller, speaks to the City Council on the budget and tax rate for the 2021-22 fiscal year. (Bailey Lewis / Community Impact Newspaper)
In passing this year’s budget, von Keller City Council approved keeping the tax rate at $ 0.395 per $ 100 of taxable value for the 2021-22 fiscal year – just as it did for the 2020-21 fiscal year.
In fact, according to city documents, thanks in part to new home construction and increased property values, the city will generate $ 123,754 more property tax revenue in fiscal year 2021-22 than last year – an increase of 0.52%.
However, the final outcome of the city council meeting on September 21 was a tax break for homeowners.
According to Aaron Rector, director of administrative services for the city, a homeowner with an average home taxable value of $ 347,898 can expect to pay $ 1,374 in taxes to the city because Keller previously granted his homestead exemption on the state Has increased by a maximum of 20%.
That’s a $ 15.48 decrease from fiscal 2020-21, even with one tax rate remaining. Rector said the average residential taxpayer can expect to pay $ 114.52 a month for city services.
The total tax rate of $ 0.395 consists of a maintenance and operating tax (M&O) rate of $ 0.336030 and an interest and sinking interest rate (I&S) of $ 0.058970.
The city’s homestead exemption was previously 14% but was increased in June.
Keller Mayor Armin Mizani said the city is providing “the greatest tax break in the history of Keller”. This feeling was confirmed by the rector.
The city’s now-approved budget for fiscal year 2021-22 is $ 100,247,944, according to meeting documents – an increase of $ 13,882,022 over last year’s budget.