Those who live in Wichita Falls are more likely to have to be paying less in overall property taxes for this coming year.
Wichita County leaders have lowered the property tax rates for the third year in a row. That means that county residents will now pay $0.50 as opposed to the current $0.51 per hundred dollar value.
Wichita Falls city leaders have to hold two public hearings before they can take any action towards a proposed two cent property tax increase. The city will hold two public hearings before the property tax rate would possibly increase from $0.63 to $0.65. According to city leaders that increase would go towards pay increases for city employees. Assistant City Manager Jim Dockery said those pay increases would help retain current employees who might be looking to do the same work for more money in other municipalities.
The school districts newly adopted tax rate will mean a seven cent decrease from the current rate will mean residents will pay $1.13 as opposed to the current $1.20 per hundred dollar value.
When you add it all up Wichita Falls residents will now pay a combined $2.28 per hundred dollar value versus the current years $2.34 cents.