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Colleyville City Council members set course for a higher fiscal 2027 property tax rate to cover increased maintenance, operating and interest expenses and confront the same drop in property valuations that other governmental entities are seeing from the Tarrant Appraisal District.
Council members, at their Aug. 18 meeting, approved Sept. 1 as the date for a public hearing. The council also is scheduled to vote Sept. 15 on the tax rate.
The city staff is proposing a tax rate of 35.248 cents per $100 of property value, up from the current year’s tax rate of 31.1931 cents per $100. The proposed rate is the highest the city council can approve before asking voters for approval.
The average home value in Colleyville dropped to $678,440 from $705,492.
As a result, the city tax bill for 2027 on that home would be $2,391.36.
Last year, the average homeowner paid a Colleyville property tax bill of $2,200.65. Appraised values from the Tarrant Appraisal District dropped this summer 3.09% to $8.9 billion.
That was due to residential valuations, which dropped 3.52% to $7.8 billion. Commercial valuations increased 0.17% to $1.081 billion.
TAD’s policy of reappraising residential valuations every two years instead of annually has impacted city budgets, which rely on property tax to fund much of their basic city services.
Other factors affecting Colleyville’s property tax rate for 2027 are increasing numbers of retirees and their senior property tax exemptions, and increased interest expenses coming due on a recreation center and new police vehicles.
“It’s not that we’re being frivolous or that we’re spending money to spend money,” Mayor Bobby Lindamood said during the Aug. 18 meeting.
Cassie Smith, finance director for the city of Colleyville, walked the council through the mechanics driving the property tax increase.
“If appraised values go down, our tax rate goes up,” Smith said. “This is if we’re maintaining the exact same revenues. If our appraised values go up, tax rate goes down. Lovely seesaw effect.”
Because Colleyville’s valuations decreased, the city would have to raise the tax rate to maintain services, she said.
“It does look like a large hike, but again, it’s because those appraised values went down,” Smith said. “If we were going to stay the same, we would have increased regardless.”
Smith said that the city’s tax ceiling — the level at which property tax bills are frozen for qualifying residents — stands at approximately $22,100,000, representing 24% of the city’s total taxable value. Nearly all of that frozen tier is attributable to senior residents.
“Ninety-nine percent of that 24% is for the 65 (senior residents). So that’s just what our community looks like,” Smith added.
Eric Zarate is a freelance journalist. If you believe anything in this account is inaccurate, please email us at news@fortworthreport.org with “Correction Request” in the subject line.
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