Proposed tax rate the same but for most it means higher taxes
Public participation in the discussion is invited ?
The taxrate that is ultimately adopted at this meeting or at a separate meeting at a
later date may not exceed the proposed rate unless the district publishes a
revised notice and holds another public meeting. View
official notice published 8/15/2016
Budget increase of 1.83%, taxrate unchanged ?
The overall budget compared to last year?s budget will show
a 1.83% increase with a 2.08% increase in operational expenditures and a 0.13%
decrease in debt service. This will required an overall tax rate of $1.486724
per 1000 dollars of property valuation. This is the same rate as last year.
Taxable value of home increased nearly 20% ?
However, while the tax rate remains unchanged it will
generate more money for the district because the average taxable value of a
home increased by 19.5 %. In 2015 the average taxable value of a home in the
district was $115,385. In 2016, the taxable value increased to $138,145.
Note: This is considering only the taxable value of the
home. The average home in the Kennedale School District showed an overall value
of $184,698. This compared to last year average valuation of $ 157,840.
Average tax increase is $338.37 ?
As a result of the tax rate and the increase valuations, the
average homeowner will see an approximate increase of $338.37. There are a
several factors involved in determining a homeowner exact rate. Some homes saw
dramatic increases in valuation while others saw only modest increases. It is
safe to say in the market over the last several years, everyone has seen an
increase in their home values regardless of condition.
The average tax total school tax payment last year was
$1,715.46. This year the average will be $2,053.83. This will presented to the
taxpayer in a statement at the end of the year from the Tarrant County Tax
Assessor?s Office that combines all taxes for city, schools and other
governmental entities. Most will be paid through an escrow account tied to
their mortgage. There is no separate bill sent from the school district.
Claim your homestead exemptions ?
You can go online to
make sure you have claimed your homestead exemptions including the 65 or older
exemption. State law requires that tax rates on a home freezes after the owner
turns 65 (goes into effect the following year). It cannot be increased
regardless of an increase in future tax rates or home valuations. It also
applies to the surviving spouse if the spouse was 55 years or older at the time
of death of the qualifying homeowner.
Kennedale ISD offers a $25,000 homeowers exemption, an
additional $10,000 65+ exemption, $10,000 general disability exemption plus
several qualifying miltary disability exemptions. Find out more at Tarran
County Tax Exemptions. Apply for exemptions through the Tarrant Appraisal
District at www.tad.org for the most up-to-date informatin and exemptions
forms.
