AMARILLO, Texas (KAMR/KCIT) — “Know Your Taxes” a new campaign launched by the Amarillo Association of Realtors. The organization wants people to know the vital role people play in determining how much they pay in property taxes.
The three step process starts with Valuation. This is already concluded for the year 2022 but it’s when homeowners receive a letter with their proposed taxable value of their property.
Next is budgeting, which is happening right now. Taxing entities are determining their budget and funding priorities for the upcoming year which will determine how much we’ll pay in property taxes to an entity.
Finally there is Tax Rate Setting which happens once the budget is set.
For more information visit the AAR website here.