SAN ANGELO – Tom Green County Commissioners Tuesday approved a proposed property tax rate for FY2023 that is 4.3 cents lower than the current rate for Tom Green County and took a record vote.
The proposed rate of 50.579 cents per $100 in property value exceeded the no-new-revenue rate of 46.887 cents but was lower than the voter approval rate 51.043 cents.
Property values across Texas and especially in Tom Green County skyrocketed over the last two years and Governor Greg Abbott has made reducing property taxes a priority when the Texas Legislature meets in January.
As we reported earlier this year, in January 2020, the average price paid for a home sold in the San Angelo local market was $184,483 and the median price was $181,000. In March 2022, the average price increased 32 percent to $244,432 and the median price increased 22 percent to $220,000. The TREC data is a separate data set than appraisal districts use and it backs up the phenomena seen in this year’s appraisals. Real estate values are skyrocketing.
Currently, the property tax bill for a property in San Angelo includes three taxing entities, the County, the City of San Angelo, and the San Angelo Independent School District.
The property tax rates for the current fiscal year are as follows:
Tom Green County .54880
City of San Angelo. .77600
San Angelo ISD. 1.0996
Total Tax Rate. 2.42441
The City and the SAISD have yet to approve a property tax rate for FY23 but will do so in the coming weeks.
The Commissioner's action Tuesday morning triggers a public hearing on the property tax rate which will be held on Thursday, Sept. 1, 2022 at 6 p.m. in the Commissioners Court Meeting Room on the second floor of the Keyes building downtown.
The court will adopt the tax rate and FY23 budget at its regular meeting Tuesday, Sept. 6, 2022 at 8:30 a.m. in the same courtroom.