UP City Council OKs Maximum Proposed Property Tax Rate, Sets Date To Consider Final Rate
The University Park City Council this week approved a maximum proposed property tax rate of 25.6527 cents per $100 of taxable value for fiscal year 2023. That doesn’t mean that’s the rate homeowners will pay, though.
“We are here to set the maximum tax rate. This is not a rate that we actually intend to enact, but we could if we needed to,” said University Park finance director Tom Tvardzik.
Tvardzik noted that 1.26% of property in the city remained under protest as of the certified estimate of values from the Dallas Central Appraisal District July 25, and the final certified valuation is up 11.42% from 2021.
A public hearing on the proposed tax rate is set for 5 p.m. during the regular city council meeting Sept. 20, after which the city council will consider adopting the final fiscal year 2023 property tax rate.
