Attention Bell County residents! Brace yourselves for some eye-opening news: the property tax levy has skyrocketed by over $63 million this year! That’s right, the total levy from the 41 governmental entities in our beloved Bell County has jumped from just over $601 million in 2023 to a staggering $664.9 million in 2024.
So, what does this mean for you? The levy is the total amount of taxes that local governments are entitled to collect, based on the rates they set and the rising value of properties across Bell County. But here’s the kicker—actual revenue might fall short of that figure due to property owners not always paying their dues. Talk about a financial balancing act!
Picture this: some property owners may delay their payments, leading to delinquencies that hamper tax collection efforts. Plus, there’s a silver lining—some entities offer sweet early payment discounts! According to Section 31.05 of the Texas Tax Code, taxing bodies can give property owners up to a 3% discount if they settle their taxes early. It’s a win-win for proactive taxpayers!
Let’s take Killeen ISD as an example. Their property tax levy for 2023 stood at about $105.4 million, but it’s set to rise to nearly $112.4 million this year. Although they collected about 98% of their taxes last year, they anticipate reaching 99% this time around. With this in mind, they expect to net around $107.2 million in 2024, still shy of the total levy—proof that even the most organized entities face hurdles.
Killeen ISD is also shaking things up by offering an enticing early payment discount through their 3-2-1 tax discount program. Homeowners can snag a 3% discount if they pay in the first month, 2% in the second, and 1% in the third. While this encouraging policy is aimed at benefiting taxpayers, it’s projected to cost the district about $2.9 million this year. With the expected revenue adjustments, Killeen ISD is still making their best efforts to collect what they are owed.
This year’s levy increase of 10.6% isn’t just a random spike; it reflects the reality that many major taxing entities in Bell County hiked their rates, riding the wave of a robust real estate market that’s seen property values soar by approximately $2.6 billion!
Out of the 41 entities benefiting from property taxes, only four saw their levies decrease this year. River Farm MUD No. 1, along with Bartlett ISD, Copperas Cove ISD, and Lampasas ISD, were the exceptions to the levy hike trend. Interestingly, both Copperas Cove ISD and Lampasas ISD have actually reduced their property tax rates—an unusual but commendable move!
For instance, Copperas Cove ISD’s levy dipped from $967,138 to $941,800, marking a 2.6% decrease, while Lampasas ISD experienced a slight reduction from $138,760 to $136,830. But remember, these figures only capture the Bell County portion of their tax levies; the bulk comes from Coryell and Lampasas counties.
On the flip side, some entities have seen massive increases. Bell County MUD 2, a special utility district, witnessed a jaw-dropping 145.9% surge in its levy—from $43,266 in 2023 to $106,400 in 2024. Meanwhile, Rogers ISD wasn’t far behind with a staggering 98.3% increase, pushing their levy from just under $2.9 million to nearly $5.7 million.
And let’s not forget about the Village of Salado, which enjoyed a 39.7% year-over-year increase, bringing its 2024 levy to $2.1 million—a significant leap from $1.5 million in 2023!
The heavyweights of this year’s levy game? Bell County, Killeen, Temple, Belton ISD, Killeen ISD, and Temple ISD all saw increases, with Bell County leading the charge at a whopping $125.6 million—up 16.3% from last year! Killeen ISD follows closely with a levy of $112.4 million, marking a $7 million increase from 2023.
Other notable levies include Belton ISD at $71.9 million, Killeen at $72.4 million, Temple at $64.4 million, and Temple ISD at $81.6 million. Outside of these key players, most entities are looking at $22 million or less in property tax revenues from Bell County.
