Tax Rate ReductionsOct 19, 2020
The Board of Directors of Hays County WCID No.1 is pleased to report to all District residents that it has voted to increase the residential homestead exemption from 2% to 5% for the 2020 tax year. This follows a number of property tax relief actions taken by the Board over recent years, including a $10,000 exemption for residents who are over 65 or disabled adopted, for the 2016 tax year, a reduction of the Districts tax rate from 87.5 cents per $100 of value to 86 cents per $100 of value for the 2018 tax year, and approval of the original residential homestead exemption for the 2019 tax year. All of these actions remain in effect. In addition, the Board was able to save $2,828,463 by refunding six separate Bond Series. The District continues to monitor the call dates on all Bonds issued for future opportunities for additional savings.
The Board has developed an annual process to evaluate the anticipated upcoming capital project needs of the District, the upcoming operating and maintenance budget, the available fund balance, and the increases in overall assessed value of taxable property within the District to determine whether additional tax relief is fiscally responsible. The Board has also refinanced debt from prior bond issuances to improve the Districts financial position, allowing for consideration and ultimate approval of property tax relief over recent years. In addition, the Board has worked diligently throughout the past year to address remaining development obligations and take advantage of low interest rates in financing its most recent bond issuance.
Contact the WCID staff at CSAUS@Inframark.com or 512-287-8004 after hours 512-246-0498