The public hearing and meeting to approve the proposed 2025-2026 tax rate was held Tuesday evening, Aug. 19 at the City of Canyon Commission.
The tax rate is a 25% increase from the current rate, with 86% of the increase servicing the debt payments for the voter-approved 2025 Public Safety Facility Bond, according to Beau Boyer, Budget & Purchasing Manager for the City of Canyon.
The total adopted tax rate was approved at 0.51181 per $100, with the maximum rate being 0.52873. Of this amount:
Commissioners voted 3-1 to pass the new tax rate, with Commissioner Place 3 Paul Lyons voting against the measure. Cody Jones, Mayor Pro Tem, was not in attendance.
The proposed tax is 30% more than the no-new revenue tax rate of $0.39420, as calculated in accordance with the provisions of the current property tax code. The average annual household payment is $1,367, which is a $304 increase from 2024 ($67 for operations and $236 for voter approved debt service).
When comparing Canyon’s total 2025 property tax revenue to the 2024 property tax revenue of the six Texas cities with the closest population, Canyon would be right in the middle (fourth highest and fourth lowest).
According to Canyon City Manager Joe Price, “On Tuesday night, the Canyon City Commission approved a new property tax rate of $0.51181 per $100 of valuation, or roughly a 25% increase from the 2024 tax rate. The increase is largely a result of the voter-approved Public Safety Bond from the May 2025 election, which will go into effect this year. Other additions to this year’s budget included moving the Police Department to a step pay program, two additional School Resource Officers, and a new part-time firefighter position.”
The 2025 market values of property increased by 2% and taxable values increased by 5% compared to 2024 tax year. The proposed tax rate would generate a 29% increase in budgeted property tax revenue in the 2025-2026 fiscal year.
Those seniors with a homestead tax rate freeze will not be affected, according to the information provided at the meeting.
For more information, visit www.CanyonTX.gov.
This article originally appeared on Amarillo Globe-News: City of Canyon OKs property tax rate increase
Reporting by Nell Williams, Amarillo Globe-News / Amarillo Globe-News
USA TODAY Network via Reuters Connect
