Belton City Hall

Belton City Hall

The city of Belton adopted a property tax rate of 63 cents per $100 valuation on Tuesday — taxes that will fund a $36.4 million budget for fiscal year 2022.

“At 63 cents we still have the lowest tax rate of any major city in Bell County and we also have the largest percentage of non-taxable property,” Belton Mayor Wayne Carpenter said. “Almost 30 percent of the city does not pay property taxes and that’s a very high percentage compared to our peers that we’re competing with.”

Although the adopted tax rate will remain the same as last year, Director of Finance Mike Rodgers has repeatedly emphasized how many residents’ property values are on the rise.

“For the 2020 tax year, our average taxable value of a single-family residence is $193,247. That particular average home would have paid $1,217 in city taxes last year,” he said during a special meeting last week. “For 2021, our average taxable value has increased by 8.89 percent to $210,594. That average home would now pay $110 more in property taxes than it did in the 2020 tax year.”

Due to that, the city’s no new revenue rate was 59.10 cents per $100 valuation.

During a Belton City Council meeting on Tuesday, Rodgers noted how these increases in property values will allow the city of Belton to raise more money in property taxes than it did the previous year.

“This budget will raise more total property taxes than last year’s budget by an amount of $865,593, which is a 9.68 percent increase from last year’s budget,” he said. “The property tax revenue to be raised from new property added to the tax roll this year is $235,230.”

Of the 63 cents per $100 valuation, 8.34 cents is for debt service payment while 54.66 cents for maintenance and operations, according to the city of Belton.

“The tax rate will raise more taxes for maintenance and operations than last year’s tax rate,” Rodgers said. “The tax rate … will raise taxes for maintenance and operations on a $100,000 home by approximately $48.30.”

The director of finance added how the adopted budget for fiscal year 2022 includes total resources of $36,383,280 and expenditures of $34,180,640.

About $17.5 million is budgeted for the general fund, $1.2 million for the debt service fund, $2.7 million for special revenue funds, $11.2 million for enterprise funds, $1.4 million for internal service funds and $2.5 million for the Belton Economic Development Corp. fund, according to the city of Belton.

“I honestly think our budget is where it needs to be,” Councilman David K. Leigh said. “I think we’ve put the money where it should be, so I think it’s a good (tax) rate.”