SHERMAN, Texas. Sherman's June 15, 2026 City Council agenda includes the city's first Taxpayer Impact Statement under House Bill 1522, a 2025 Texas law that requires local governments to disclose the projected property tax bill on a median-valued homestead any time a meeting agenda includes discussion or adoption of a budget.
What the disclosure shows
The disclosure, listed on the agenda as item L.1, presents two columns. The first column shows what the city is proposing for the upcoming fiscal year. The second column shows what the bill would look like if the city instead adopted the no-new-revenue rate, the rate that would generate the same total revenue from existing properties as the prior year.
- Total tax rate, proposed FY 2026: $0.508000 per $100 of value
- Total tax rate, FY 2026 no-new-revenue: $0.619404 per $100 of value
- Median homestead taxable value, proposed: $231,004
- Median homestead taxable value, no-new-revenue: $251,138
- Tax on median-valued homestead, proposed: $1,174
- Tax on median-valued homestead, no-new-revenue: $1,556
Read literally, Sherman is proposing both a lower rate ($0.508000 versus $0.619404 per $100) and a lower median homestead taxable value ($231,004 versus $251,138) than the alternate scenario presented under the no-new-revenue calculation. The resulting projected bill on the median homestead is $382 lower under the proposed rate than under the no-new-revenue comparison column.
Why this disclosure exists
House Bill 1522, signed in 2025 and effective September 1, 2025, amended the Texas Local Government Code to require this side-by-side comparison whenever a budget is on a public meeting agenda. The statute defines the format the disclosure must take and requires the use of the median-valued homestead for the comparison.