If you own a $100,000 home and you live in the Williamsburg Independent School District, then you will be paying about $12 extra on your property tax bills starting next year.
The Williamsburg Independent Board of Education approved the 2020 real estate tax rate and the personal property tax rates both at 49.80 cents per $100 of assessed value during a special meeting Friday afternoon.
In 2019, the real estate tax rate and the personal property tax rate were both 48.6 cents per $100 of assessed value.
Finance Officer Jimmy Hall noted that the increase is projected to generate $31,902 in additional revenue, which will be allocated directly towards instructional and textbook needs.
“We need this revenue,” said Superintendent Tim Melton, who added that the state isn’t providing any revenue to purchase new textbooks. “We have been fortunate this year with some other sources to be able to get those. It has helped with what we are doing.”
Last month, the board proposed the 4 percent tax increase, but first had to have a public hearing before it could officially vote Friday to approve the 4 percent tax increase.
Hall noted that no one showed up for the public hearing.
The 2020 tax rates are higher than the 2019 rates, but are lower than the 2017 tax rates, which were 53 cents per $100 of assessed value.