Notice of Public Hearing on Tax Rate – September 18, 2024
The Palmer Plantation Municipal Utility District No. 2 (PPMUD No. 2) is set to hold a public hearing regarding the proposed tax rate for the 2024 tax year. Here are the details:
- Date: Wednesday, September 18, 2024
- Time: 4:00 p.m.
- Location: Lake Olympia Civic Association, 180 Island Boulevard, Missouri City, Texas 77459
Analysis of Proposed Tax Rate
The proposed tax rate for 2024 is $0.36600 per $100 of property value, which represents a decrease from last year’s rate of $0.40000 per $100. This reduction amounts to a difference of $-0.03400 per $100, reflecting an 8.50% decrease in the rate.
However, despite the lower rate, the average appraised residence homestead value has increased from $322,020.00 last year to $353,626.00 this year. As a result, the tax on the average residence homestead is projected to rise slightly from $1,288.08 to $1,294.27, an annual increase of $6.19 or approximately 0.48%.
Impact on Property Owners
Your individual tax change will depend on how the value of your property compares to the change in value of all properties in the district. This fluctuation determines how the tax burden is distributed among property owners.
For more information about the proposed tax rate and to view additional details, please refer to the full document or visit the local property tax database at Texas.gov/PropertyTaxes. You can also contact the tax office at 281-482-0216 for further assistance.