The 2022 consolidated tax rate of $1.7996 per $100 of valuation was already considered one of the lowest in the state of Texas. Now, Rockwall residents and businesses will benefit from a consolidated tax rate of $1.565445.
In a recent press release from the City of Rockwall, Mayor Trace Johannesen stated, “The City of Rockwall works diligently to adopt a balanced budget every year while lowering taxes and continuing to invest in public safety, critical infrastructure, and the high-quality services our residents enjoy. This added revenue allows us to do that without burdening our taxpayers.”
The City of Rockwall dropped their tax rate from $0.2925 per $100 valuation in 2022, to $0.270245 per $100 valuation in 2023. The $0.022255 reduction amounts to a 7.6% drop in their specific tax rate. Rockwall County dropped their tax rate from $0.2925 to $0.2760, a $0.0165 reduction that is equivalent to a 5.64% decrease. Finally, Rockwall Independent School District achieved a $0.1954 reduction – from $1.2146 to $1.0192 – amounting to a 16% drop.
It should also be noted that there are no special taxing jurisdictions within the City of Rockwall. So, while the community benefits from services like hospitals and a nearby community college, unlike in other jurisdictions, Rockwall residents and businesses are not charged for those services on their tax bill.
“Once again, Rockwall residents and businesses should feel proud of the strong financial management displayed by our local government entities that have allowed our tax rate to continue to drop, “ said REDC President Phil Wagner. “ A few years ago, we were a rare community that had a consolidated tax rate under two percent. Now, we are approaching one and one-half percent. Special credit should go to the Texas Legislature that assisted with school financing and helped make much of this reduction happen.”