City of Denison explains 2026 tax rate definitions and calculation methods

The City of Denison has issued a public notice providing information regarding two specific tax rates that taxing units use when adopting the current tax year’s tax rate. The announcement clarifies the definitions and calculation methods for the no-new-revenue tax rate and the voter-approval tax rate.

According to the notice, the no-new-revenue tax rate is designed to impose the same amount of taxes as the previous year, assuming a comparison of properties that were taxed in both years. This rate serves as a baseline for maintaining existing tax collections without increasing the burden on those specific properties.

The notice further explains that the voter-approval tax rate represents the highest tax rate a taxing unit can adopt without holding a public election. In most cases, this rate sets the upper limit for tax adoption without requiring direct voter approval through a ballot measure.

The city stated that taxing units calculate these rates by dividing the total amount of taxes by the current taxable value. This calculation includes adjustments as required by state law. The resulting rates are expressed per $100 of property value.

Residents should note that these definitions apply to the 2026 tax year. The notice serves to inform the public about how these specific rates are determined and what they represent in the context of local property taxation. No specific dollar amounts or percentage rates were included in this particular announcement, which focuses on the structural definitions of the two rate types.