Notice of Public Hearing on Tax Increase

The City of Overton is proposing to increase the tax rate for the 2020 tax year. A public hearing will be held on September 3, 2020 at 7:00 pm at the Overton Community Building, 505 Meadowbrook, Overton, Texas.

The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate, and as such, a petition by the voters would be required to hold an election to accept or reject the proposal.

See the links below for more information and the proposed budget for Fiscal Year 2021:

50-873 Notice of Public Hearing-Tax Rate FY 20-21

Proposed Budget FY 2021 8.13.20

“DE MINIMIS RATE ADDENDUM: 

The voter-approval tax rate is the highest tax rate that the City of Overton may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for the City of Overton exceeds the voter-approval tax rate for the City of Overton. 

The City of Overton proposes a tax rate that exceeds the voter-approval tax rate. Therefore, Section 26.06 of the Tax Code requires the City of Overton to publish the above notice of a public hearing. However, for the City of Overton, the de minimis rate exceeds the voter-approval tax rate. Therefore, the below additional notice information applies to the City of Overton: 

DE MINIMIS RATE $ 1.311785 per $100 

The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for the City of Overton, the rate that will raise $500,000, and the current debt rate for the City of Overton. 

The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate. The proposed tax rate does exceed the rate that allows voters to petition for an election under Section 26.075, Tax Code. Therefore, if the City of Overton adopts the proposed tax rate, the City of Overton is not required to hold an election for voters to accept or reject the proposed tax rate.”