Page 2 - NEXT YEAR BUDGET DETAIL REPORT

Form 50-876
Statements required in notice if the proposed tax rate exceeds the no-new-revenue tax rate but does not exceed the voter-approval tax rate, as prescribed
by Tax Code §§26.06(b-2).
PUBLIC HEARING
NOTICE OF DRAFT
ON TAX INCREASE

This notice does not apply to a taxing unit that has a de minimis rate.

PROPOSED TAX RATE $___________________ per $100
0.260991
NO-NEW-REVENUE TAX RATE $___________________ per $100
0.239046
VOTER-APPROVAL TAX RATE $___________________ per $100
0.283010

The no-new-revenue tax rate is the tax rate for the 2023 tax year that will raise the same amount
(current tax year)
of property tax revenue for the City of Colleyville from the same properties in both
(name of taxing unit)
the 2022 tax year and the 2023 tax year.
(preceding tax year) (current tax year)
The voter-approval tax rate is the highest tax rate that the City of Colleyville may adopt without holding
(name of taxing unit)
an election to seek voter approval of the rate.

The proposed tax rate is greater than the no-new-revenue tax rate. This means that the City of Colleyville is proposing
(name of taxing unit)
to increase property taxes for the 2023 tax year.
(current tax year)
A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON 7:00 pm on September 6, 2023
(date and time)
at the Colleyville Council Chambers on the third floor of 100 Main Street, Colleyville, TX 76034 .
(meeting place)
The proposed tax rate is not greater than the voter-approval tax rate. As a result, the City of Colleyville is not required
(name of taxing unit)
to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or

opposition to the proposed tax rate by contacting the members of the City Council of
(name of governing body)
the City of Colleyville at their offices or by attending the public hearing mentioned above.
(name of taxing unit)

YOUR TAXES OWED UNDER ANY OF THE TAX RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:
Property tax amount = ( tax rate ) x ( taxable value of your property ) / 100
(List names of all members of the governing body below, showing how each voted on the proposal to consider the tax increase or, if one or more were absent, indicating absences.)

FOR the proposal: ___________________________________________________________________________
AGAINST the proposal: _______________________________________________________________________
PRESENT and not voting:_____________________________________________________________________

ABSENT: __________________________________________________________________________________

Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can easily access information regarding your
property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property.
Form developed by: Texas Comptroller of Public Accounts, Property Tax Assistance Division 2 For additional copies, visit: comptroller.texas.gov/taxes/property-tax
50-876 • Rev. 6-23/4