LUBBOCK, Texas (KCBD) – The average Lubbock County home owner will not see a property tax increase from the county next year, under the proposed rate being considered. To do, cuts to the proposed budget must be made.
According to a notice on the county website and agenda for next week’s meeting, the county is proposing to adopt the no-new-revenue rate of 32.7425 cents per $100 valuation.
The no-new-revenue rate means no tax increase for someone whose property valuation matches the average appraisal change. Across Lubbock County, the average homestead appraisal increased 1.9 percent, from $219,455 to $223,528. The no-new-revenue rate does not account for additional revenue that will be generated from new properties that were not on the tax rolls last year…