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NOTICE OF PUBLIC HEARING ON TAX INCREASE A tax rate of $0.269453 per $100 valuation has been proposed by the governing body of City of Garrett. PROPOSED TAX RATE $0.269453 per $100 NO-NEW-REVENUE TAX RATE $0.258743 per $100 VOTER-APPROVAL TAX RATE $0.277364 per $100 The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for City of Garrett from the same properties in both the 2023 tax year and the 2024 tax year. The voter-approval rate is the highest tax rate that City of Garrett may adopt without holding 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 City of Garrett is proposing to increase property taxes for the 2024 tax year. A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 19, 2024 AT 5:30 pm AT 208 N. Ferris, Ennis, TX 75119. The proposed tax rate is not greater than the voter-approval tax rate. As a result, City of Garrett is not required 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 of Garrett of City of Garrett at their offices or by attending the public hearing mentioned above. YOUR TAXES OWED UNDER ANY OF THE RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS: Property tax amount= (tax rate) x (taxable value of your property)/100 FOR the proposal: David Burak Jennifer Nunnery Dan Cepak AGAINST the proposal: PRESENT and not voting: ABSENT: Josie Holdridge Anthony Bryant 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. The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state. The following table compares the taxes imposed on the average residence homestead by City of Garrett last year to the taxes proposed to be imposed on the average residence homestead by City of Garrett this year. 2023 2024 Change Total tax rate (per $100 of value) $0.272556 $0.269453 decrease of -0.003103 per $100, or -1.14% Average homestead taxable value $235,616 $214,425 decrease of -8.99% Tax on average homestead $642.19 $577.77 decrease of -64.42, or -10.03% Total tax levy on all properties $129,339 $142,338 increase of 12,999, or 10.05% For assistance with tax calculations, please contact the tax assessor for City of Garrett at 972-875-5893 or citysecretary@cityofgarrett.com, or visit cityofgarrett.com for more information