Commissioners Approve New Property Tax Rate for 2014
CORPUS CHRISTI (Kiii News) -
At the Nueces County Courthouse Monday, the public had another chance to comment on changes to the county's tax rate for the next year.
Most property owners will see their taxes increase, not because of a rate hike, but because of increasing property values.
Commissioners approved Monday the new rate of 34 cents per $100 valuation. That's a penny less than last time, but because of higher valuations, it will mean more than a seven-percent boost in revenue.
The owner of an average-priced home of just over $100,000 will pay about $19 more in property taxes.
"Under current valuations, it's saving the population of Nueces County about $4.5 million on their taxes. That's a great statement," Nueces County Judge Loyd Neal said. "Our tax rate combined is going to be the lowest combined tax rate we've had in 20 years for Nueces County and the hospital district."
Judge Neal said the commissioners will formally approve the new county budget next Wednesday.