NOTICE OF 2016 TAX YEAR PROPOSED PROPERTY TAX RATE FOR CITY OF COLLEYVILLE

 A tax rate of $0.339130 per $100 valuation has been proposed for adoption by the governing body of City of Colleyville. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.

The governing body of City of Colleyville proposes to use revenue attributable to the tax rate increase for the purpose of maintaining current programs and services.

PROPOSED TAX RATE $0.339130 per $100

PRECEDING YEAR'S TAX RATE $0.355900 per $100

EFFECTIVE TAX RATE $0.329138 per $100

ROLLBACK TAX RATE $0.351431 per $100

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Colleyville from the same properties in both the 2015 tax year and the 2016 tax year.

The rollback tax rate is the highest tax rate that City of Colleyville may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:

property tax amount= (rate) x (taxable value of your property)/100

For assistance or detailed information about tax calculations, please contact:

Colette Ballinger, RTA

City of Colleyville Tax Assessor-Collector

100 Main Street, Colleyville, TX

76034 817-481-1242

colette.ballinger@gcisd.net

www.colleyville.com

You are urged to attend and express your views at the following public hearings on the proposed tax rate:

First Hearing: August 25, 2016 at 5:30 PM at City Hall, 100 Main Street, Colleyville, TX 76034. Second

Hearing: September 6, 2016 at 7:30 PM at City Hall, 100 Main Street, Colleyville, TX 76034.