Notice of Tax Rates

Notice about 2022 Tax Rates

Property tax rates in City of Magnolia.
This notice concerns the 2022 property tax rates for City of Magnolia. This notice provides information about two tax rates used in adopting the current tax year's tax rate. The no-new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties taxed in both years. In most cases, the voter-approval tax rate is the highest tax rate a taxing unit can adopt without holding an election. In each case, these rates are calculated by dividing the total amount of taxes by the current taxable value with adjustments as required by state law. The rates are given per $100 of property value.

This year's no-new-revenue tax rate                            $0.2664/$100
This year's voter-approval tax rate                              $0.3813/$100

To see the full calculations, please visit for a copy of the Tax Rate Calculation Worksheet.

Unencumbered Fund Balances
The following estimated balances will be left in the taxing unit's accounts at the end of the fiscal year. These balances are not encumbered by corresponding debt obligation.

Type of FundBalance
2014 General Obligation Refunding Bond101,867
2014 Certificate of Obligation Bond48
2011 State Infrastructure Bank Loan165,677
General Operating


Current Year Debt Service
The following amounts are for long-term debts that are secured by property taxes. These amounts will be paid from upcoming property tax revenues (or additional sales tax revenues, if applicable).

Description of Debt     

Principal or Contract Payment to be Paid from Property Taxes                


Interest to be Paid from Property Taxes                                                                     

Other Amounts to be Paid                 Total Payment
2014 General Obligation315,000121,425500   436,925
2014 Certificate of Obligation120,000167,075750   287,825
2011 State Infrastructure Bak Loan148,98316,1830   165,166
2017 State Infrastructure Bank Loan49,97516,9060     66,881
2021 Tax & Revenue Certificates of Obligation630,000             214,349500   844,849
2021 State Infrastructure Bank Loan61,80400     61,804
2022 State Infrastructure Bank Loan187,36222,2400   209,602
2022 Tax & Revenue Certificates of Obligation410,000773,9515001,184,451
Total required for 2022 debt service  $3,257,503                     
- Amount (if any) paid from funds listed in
unencumbered funds   
- Amount (if any) paid from other resources               $0
- Excess collections last year      $26,307
= Total to be paid from taxes in 2022 $1,342,081
+ Amount added in anticipation that the unit will
collect only 100.00% of its taxes in 2022
= Total debt levy $1,342,081

This notice contains a summary of actual no-new-revenue and voter-approval calculations as certified by Tammy McRae, Montgomery County Tax Assessor-Collector on 08/05/2022 .

Visit to find a link to your local property tax database on which you can easily access information regarding your property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property.

The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.

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