On Tuesday, the San Marcos City Council approved, on the first of two readings, a tax rate of 61.39 cents per $100 valuation that is not exempt from taxation for the 2019 tax year. Councilmembers voted for the new tax rate with the exception of Councilmember Lisa Prewitt, who voted against the proposed rate. A second public hearing to discuss the tax rate is scheduled for Sept. 3 during council’s regular meeting. After the second public hearing, council will approve the second reading of the tax rate ordinance on Sept. 17.
The previously adopted property tax rate was also 61.39 cents on each $100 of taxable value of real property. Though the proposed rate is the same as last year, if adopted, it will raise taxes by 7.97%, or by $45.30 for a $100,000 home, according to the ordinance.
The increase in rate comes from an increase in property valuations.
