Notice of Public Hearing on Tax Rate – October 15, 2024
The Harris County Water Control and Improvement District No. 50 (HCWCID 50) has scheduled a public hearing to discuss the proposed tax rate for the 2024 tax year. The meeting details are as follows:
Date: October 15, 2024
Time: 12:00 PM
Location: 1122 Cedar Lane, El Lago, Texas 77586
This public hearing will provide an opportunity for taxpayers to learn more about the proposed tax rate and how it may affect their individual tax liabilities.
Tax Rate Analysis
The proposed tax rate for 2024 is set at 0.4750 per $100 of value, a slight increase from the previous year’s rate of 0.4345 per $100 of value. For an average residence homestead, this translates into a 7.93% increase in taxes. The table below summarizes the comparison between last year’s and this year’s proposed tax rates:
- Last Year:
- Tax Rate: 0.4345 per $100
- Average Home Value: $332,794
- Tax Amount: $1,445.98
- This Year (Proposed):
- Tax Rate: 0.4750 per $100
- Average Home Value: $328,571
- Tax Amount: $1,560.71
Homeowners should be aware that depending on the changes in their property’s taxable value relative to others in the district, their taxes may increase at a higher or lower rate than the average. The Board has proposed using the increased funds to support water, sewer, and drainage improvements within the district.
For More Information
For more details regarding the proposed tax rates and how they might affect your property taxes, refer to the official Notice of Public Hearing on Tax Rate document or visit Texas.gov/PropertyTaxes to access further property tax information.
Feel free to review the document for additional insights on the tax rate proposal and taxpayer rights.