Smith County Commissioners kept the current tax rate for county taxpayers during their regular weekly meeting this past week, but if approved, it will still mean a tax increase for property owners.
Due to increasing property values a majority of homeowners in the county will experience an increase.
When the proposed tax rate is higher than the effective tax rate, taxing entities are required by law to hold public hearings on the tax matter, with the next one scheduled for 9:30 a.m., Tuesday, Aug. 15 during the commissioner’s regular meeting.
Another public hearing is scheduled for 5:30 p.m. on Aug. 15 at the R.B. Hubbard Center, 304 E. Ferguson Street in Tyler.
Smith County’s effective tax rate is 32.423 cents per $100 valuation or .58 cents less that the 33-cent proposed rate.
The first of these hearings was held during this week’s meeting.
Across the county, values increased 4.5 percent.
The county’s debt will use 3.1641 cents of that rate to complete the new county jail.
According to the Smith County Appraisal District, the average Smith County home has a value of $165,841 or a 4.7 percent increase from the $158,188 figure in 2016.
Also according to SCAD figures, the average tax bill for county homeowners would be $547 in 2018 compared to $522 in 2017.
Of that amount, taxpayers will be spending $52.47 on the new jail.