Amarillo taxpayers will be seeing their taxes go up again, thanks to an approved tax increase in Potter County.
This week, Potter County Commissioners voted 4-0 to approve a 2 percent tax increase for residents in the Panhandle county. The rate adopted by the commissioners for the 2021-2022 fiscal year will be $0.70595 per $100 valuation, which is higher than the no-new-revenue (NNR) tax rate of $0.69105 per $100 valuation. Formerly called the Effective Tax Rate, the NNR collects the same overall revenue from properties taxed the previous year, keeping tax bills stable even as property values rise (though individual results vary).
With the Potter County Commissioners vote, Amarillo taxpayers have seen what is at least their second tax increase for the upcoming fiscal year, after the city council approved hiking taxes by more than 24 percent. The city council is going to the voters to decide the issue on November 2.
For full information about Potter County’s tax increase, please visit this link.