Local taxpayers in the Amarillo area will soon be paying their tax bills for the 2020-2021 fiscal year, each of which will be determined by the tax rates their local governments have already set.
For the past several months, Amarillo-area taxing entities have been finalizing tax rates for the upcoming fiscal year. Several entities adopted higher tax rates for the upcoming year, while some entities, such as Potter County, adopted a lower tax rate than last year.
Yet year-to-year comparisons of property tax rates are useless, as property valuations fluctuate yearly. If local government officials don’t lower the tax rate enough to offset growth in property value, your property tax bill could still increase despite the tax rate being lowered.
The property tax rate local governments can adopt that would, in the aggregate, keep homeowners’ property tax bill more or less the same from last year is called the no-new-revenue rate.
Taxpayers in Amarillo will see tax increases this year, with several taxing entities recently securing the passage of bond issues, which cause an overall tax increase due to debt service. Bond debt must be repaid, with interest, by local property taxpayers.
Here is a look at each entity’s tax rate for the upcoming fiscal year:
Amarillo ISD — $1.155400 per $100 valuation
Amarillo College — $0.227900 per $100 valuation
Bushland ISD — $1.160100 per $100 valuation
Canyon ISD — $1.280000 per $100 valuation
City of Amarillo — $0.396810 per $100 valuation
Highland Park ISD (Amarillo) — $1.097400 per $100 valuation
River Road ISD — $1.262800 per $100 valuation
Potter County — $0.690150 per $100 valuation
Randall County — $0.444210 per $100 valuation
Citizens who want information about individual tax rates and property valuations in Amarillo can visit the Potter-Randall Appraisal District website.