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Posted on: August 14, 2018

NOTICE OF 2018 TAX YEAR PROPOSED PROPERTY TAX RATE FOR CITY OF CORINTH

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A tax rate of $0.530000 per $100 valuation has been proposed for adoption by the governing body of the City of Corinth.  This tax rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.  

 

The governing body of the City of Corinth proposes to use revenue attributable to the tax rate increase for the purpose of opening Firehouse No. 3 and paying general operating expenses.

 

PROPOSED TAX RATE  $0.530000 per $100

PRECEDING YEAR’S TAX RATE  $0.536860 per $100

EFFECTIVE TAX RATE  $0.501130 per $100 

ROLLBACK TAX RATE  $0.534274 per $100

 

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for the City of Corinth from the same properties in both the 2017 tax year and the 2018 tax year.

 

The rollback tax rate is the highest tax rate the City of Corinth may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

 

YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:

property tax amount = ( rate ) x ( taxable value of your property ) / 100

 

For assistance or detailed information about tax calculations, please contact:

Michelle French

Denton County Tax Assessor-Collector

1505 E. McKinney Street, Denton, TX, 76209

(940) 349-3500

Property.Tax@dentoncounty.com

http://tax.dentoncounty.com

 

You are urged to attend and express your views at the following public hearings on the proposed tax rate:

First Hearing:  7:00 p.m. August 21, 2018 - Corinth Council Chambers, 3300 Corinth Parkway, Corinth Texas

Second Hearing:  7:00 p.m. September 6, 2018 - Corinth Council Chambers, 3300 Corinth Parkway, Corinth Texas

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