The Palmer Plantation Municipal Utility District No. 1 (PPMUD No. 1) will hold a public hearing on the proposed tax rate for the 2024 tax year. This is an opportunity for residents to learn about and discuss the potential changes to the tax rate. Below are the details of the meeting:
- Date: Wednesday, September 18, 2024
- Time: 3:00 p.m.
- Location: Lake Olympia Civic Association, 180 Island Boulevard, Missouri City, Texas 77459
Analysis of the Proposed Tax Rate
The proposed tax rate for 2024 is set at $0.40000 per $100 of property value, slightly reduced from the previous year’s rate of $0.41000 per $100. This decrease in the tax rate by $-0.01000 per $100 represents a 2.44% reduction. However, due to an increase in the average appraised value of homes—from $416,633.00 last year to $438,307.00 this year—the average tax amount on a residence homestead is expected to rise.
As a result, the tax on an average residence homestead will increase from $1,708.20 to $1,753.23, marking an annual increase of $45.03, or 2.64%.
Impact on Homeowners
This proposed tax rate may lead to an increase or decrease in your individual taxes, depending on the change in the taxable value of your property relative to the changes in the taxable values of other properties within the district. This balance determines the overall distribution of the tax burden among property owners.
For more detailed information about the proposed tax rate and how it may impact you, please refer to the full document or visit the local property tax database at Texas.gov/PropertyTaxes. For any questions or further assistance, you can also contact the tax office at 281-482-0216.