The effect on Killeen homeowners’ pockets from a proposed $30 million bond referendum is still unknown as city officials have not proposed a property tax figure to pay back the possible debt issue.
Last week, Killeen Director of Communications Hilary Shine said the city was still crunching the numbers to determine whether a tax increase was necessary or what the new rate would need to be to pay back the bond.
However, Shine said a corresponding tax increase was “likely.”
The city’s current property tax rate is 74.98 cents per $100 of taxable value assessed.
On Jan. 9, City Manager Ron Olson said the city favored a $30 million bond to cover two road projects surrounding planned school facilities in a possible $426 bond from the Killeen school district.
The two projects with current construction estimates include:
Expansion of Chaparral Road from two to five lanes — $21.5 million.
Expansion of East Trimmier Road south of Stagecoach Road from two to five lanes — $7 million.
The deadline to place the bond referendum paperwork on the May 5 ballot is Feb. 16.
A bond steering committee for the Killeen school district determined the district’s tax rate will likely increase by 13.5 cents to pay back its bond if the board of trustees and voters approve it.
The district’s current tax rate is $1.11 per $100 of taxable value assessed.
The city of Killeen already has one of the highest property tax rates in a group of 12 comparable municipalities, according to city records.
The two cities in Killeen’s “benchmark” group that have higher rates are Copperas Cove, at 79.79 cents per $100, and Waco, at 77.62 cents per $100. The city’s benchmark group includes Lubbock, Amarillo, Pasadena, Mesquite, McAllen, Waco, Abilene, Beaumont, Temple, Cove, Harker Heights and Belton.
In 2007, the city’s property tax rate was set at 69.50 cents per $100.
The average Killeen resident has a total property tax rate of $2.497 per $100, with tax levies from the city, school district, Bell County, the Bell County Road Division, the Clearwater Underground Water Conservation District, Central Texas College and Bell County Water Control and Improvement District No. 6.
Not all properties in Killeen are in the WCID No. 6 jurisdiction.
The city’s tax rate ranked 204th highest out of 1,214 municipalities in the state of Texas in 2016, according to the Texas Comptroller’s Office.