The levy imposed on real estate within the city limits of Georgetown, Texas, is determined annually and expressed as a percentage of the assessed property value. This percentage, applied to the assessed value, generates the tax revenue that funds essential municipal services such as public safety, infrastructure maintenance, and community programs. For example, a rate of 0.5% applied to a property assessed at $200,000 would result in a $1,000 annual tax bill.
This municipal revenue stream plays a vital role in maintaining the city’s operational budget and its ability to provide services to residents. The specific percentage levied is subject to change based on budgetary needs and local economic conditions. Historical trends in the rate can provide valuable insights into the city’s financial planning and priorities. Understanding how this rate is calculated and applied is crucial for property owners in Georgetown.