The city of Corpus Christi’s property tax rate won’t increase, but residents still may pay more in the upcoming year without a rate decrease.
The majority of the Corpus Christi City Council voted Aug. 11 not to adopt a property tax rate higher than the one in effect now of about 59.9 cents per $100 valuation.
Many property tax owners whose valuations have increased would pay more if the tax rate remains the same as the current.
A no-new-revenue rate, which would bring in the same revenue as the current year, would be about 59.6 cents per $100 valuation, according to a council presentation.
Under the approved resolution, the council can ultimately adopt a lower property tax rate than what was set as the maximum, 59.9 cents per $100.
The current tax
rate is the basis of the proposed budget, which remains in discussions and has not been finalized.
An initial vote and a public hearing on the property tax rate ultimately approved by the council are scheduled for Sept. 1.
The rate requires two votes to be finalized.
Approval of a property tax rate coincides with adoption of the city’s 2026-2027 fiscal year budget.
Kirsten Crow covers city government and water news. Have a story idea? Contact her at kirsten.crow@caller.com.
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This article originally appeared on Corpus Christi Caller Times: Corpus Christi property tax rate won't increase, still to be decided
