AMARILLO, Texas (KAMR/KCIT) — The Amarillo Association of Realtors is launching a new informational campaign to explain what goes into determining your property tax rate.
AAR Governmental Affairs Committee Chairman, Debbie Walker stated “Many people don’t understand the 3-step process in determining tax rates or how they can personally have an impact on those tax rates. We not only want to teach property owners about the process but also encourage them to get involved.”
Step one begins with valuation. That was when property owners across the region received a notice in the mail of the proposed taxable value of their property.
Step two is budgeting, which is currently underway. For this step, taxing entities determine their budget and funding priorities for the upcoming year. This will determine how much we all pay in property taxes to that taxing entity.
The AAR is encouraging property owners to contact their local appraisal district to find out which budgets affect their individual tax bills. Then you can reach out to those entities before their budget is set.
You can find those budget meeting dates and contact information for those taxing entities across the Texas panhandle at 806propertytax.org
You can also find more information about Step three, tax rate setting, which will take place after the budgets are set.