SAN ANGELO – Tom Green County Commissioners Tuesday adopted the FY2022 budget and tax rate for the county which includes a slight reduction in the tax rate.
The annual budget and tax rate process lasts for several months and culminates with state mandated hearings and specifically worded actions to adopt a budget and set a tax rate.
The FY2022 budget will raise more total property taxes than last year's budget by $1,451,391 or 3.61%. Of that $1,45 million, $835,641 is tax revenue to be raised from new property added to the tax roll this year.
The FY2021 tax rate for Tom Green County is $.54980 per $100 in property value. The newly adopted property tax rate for FY2022 is $.54880.
The new tax rate will raise $36,133,548 in property tax. The total revenue projected for FY2022 is $54,551,979 including property tax, sales tax, fines & fees, delinquent tax collection, penalty & interest and other receipts.
There is $7,584,615,490 in property value assessed in FY2022 in Tom Green County.