Notice of Public Hearing on Tax Rate – October 21, 2024
The Cornerstones Municipal Utility District (MUD) has scheduled a public hearing regarding the proposed tax rate for the year 2024. This hearing will take place:
- Date: October 21, 2024
- Time: 5:30 p.m.
- Location: 805 Hidden Canyon Road, Katy, TX 77450
This is an important opportunity for property owners to gain insight into how their taxes may change based on the proposed tax rate. While individual property taxes may increase, decrease, or remain stable, the actual change depends on both the new tax rate and any changes in property values relative to other properties in the area.
Tax Rate Analysis
The proposed tax rate for 2024 is $0.24250 per $100 of property value, which is a decrease from last year’s rate of $0.25750 per $100.
This represents a 5.82% reduction in the rate. Despite this decrease, the average appraised value of a residence homestead has increased from $385,400 last year to $420,331 this year.
Due to the combination of a lower tax rate but higher appraised values, the estimated tax on an average residence homestead will increase from $793.92 last year to $815.44 this year. This results in an average tax increase of $21.52, which is a 2.71% increase in annual taxes.
Additional Information
For more detailed information on the proposed tax rates, homestead exemptions, and how the tax burden is distributed, please refer to the full document or visit Texas.gov/PropertyTaxes. Here, you can also access your local property tax database for further details regarding your specific property taxes and scheduled public hearings.