The city of Bryan looks like it will soon hammer homeowners and businesses with a major tax increase.
On Tuesday, the Bryan City Council gave its unanimous approval to a $503.7 million budget for fiscal year 2024, which begins on Oct. 1. To support all of this spending, city council also considered and preliminarily approved a property tax rate of $0.624 per $100 of value (the same tax rate as the current fiscal year). If that tax rate is formally adopted at next week’s public hearing, then the city will enjoy an absolute windfall. “City staff says this decision will lead to a 19.11% increase in total tax revenue from properties on the tax roll compared to the previous year.”
You read that right. Bryan officials are proposing to boost revenues by almost 20% more in a single year.
WOW!
For Bryan homeowners, that will, of course, mean paying much higher taxes. According to the city’s latest Notice of Public Hearing on Tax Increase, the average homesteader will see an increase of almost $200 per year in their city tax bill or a 12.75% bump. For non-homesteaders, the tax hike is likely to be even more given that those properties are not protected by any sort of appraised value limitation.
So beware Bryan taxpayers—the city is readying a major tax hike.
