Taxes
Truth in Taxation
Fiscal Year 2023
Notice of Adopted 2022 Tax Rate for the Fiscal Year 2023 budget. The City of Red Oak Adopted a tax rate that will raise more taxes for maintenance and operations than last year's tax rate. The tax rate will effectively be raised by 6.62 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $-68.83.
In accordance with Tax Code Section 26.16, which was amended by Senate Bill 2 in the 86th legislative section, the City's tax rate calculation and other applicable disclosures are shown below.
Property Taxes
| Fiscal Year 2023 |
Tax Rate |
|---|---|
| Maintenance & Operations Rate |
0.481043 |
| Debt Rate | 0.216421 |
| Total |
0.697464 |
Sales Taxes
| Distributions |
Rate |
|---|---|
| State |
6.25% |
| City |
1.00% |
| Industrial Development Corporation |
0.50% |
| Economic Development Corporation |
0.50% |
| Total |
8.25% |