The Bandera County Commissioners voted all in favor of adopting the 2023 proposed property tax rate, a decrease from 2022 by 8.2 percent.
At the Bandera County Commissioners’ Court meeting on Aug. 4, County Tax Assessor Rebekah Dolphus presented the calculations for the no-new revenue tax rates and the voter approval tax rates, alongside the 2022 adopted tax rates, all which rendered the proposed tax rate of .5195 that was approved by the commissioners.
This is a decrease from last year’s tax by .004 percent.
The no-new revenue (NNR) tax rate is the rate that the county calculates in order to generate the same amount of revenue they received in the previous year if the rate was applied to the same amount of properties in both years.
If property values rise, which is evident in past years and this year’s BCAD property appraisals, then the NNR tax rate will go down.
If property values go down, the NNR rate will go up.
Essentially, this means no new revenue is acquired from the body of property that was taxed in the previous year, according to county officials.
As a result, the property owner receives a lower county tax rate to offset the increased revenue caused by inflated home appraisals, according to county officials.