High Plains Underground Water Conversation District Lowers Property Tax Rate
Earlier this week, the High Plains Underground Water Conversation District (HPWD) Board of Directors voted to lower its property tax rate for the next fiscal year.
In fact, the new property tax rate is lower than the "no-new-revenue" tax rate, which was previously referred to as the Effective Rate.
The new HPWD 2020 ad valorem tax rate is $.0055 per $100 valuation for operation and maintenance of the district. As previously stated, the property tax rate is less than the no-new-revenue tax rate of $0.00604 per $100 valuation.
According to the HPWD, landowners with $100,000 in property value will pay $5.50 in annual taxes to HPWD under the approved rate as compared to $6.30 in 2019. The HPWD 2021 fiscal year begins October 1, 2020.
"The HPWD Board of Directors have lowered the tax rate each year since 2014. It is our priority to have balanced annual budgets. This allows us to reduce the tax rate for operation of the district, while at the same time, improve services for constituents in our 16-county service area," said Board President Lynn Tate of Amarillo.
The HPWD operates in a 16-county service area which includes Lubbock County and parts of the South Plains and Texas Panhandle.