The Highlands at Mayfield Ranch Municipal Utility District (the MUD) is a political subdivision of the State of Texas authorized by the Texas Commission of Environmental Quality (TCEQ). It is authorized to levy property taxes which are used to service bond indebtedness and also to maintain and operate the District.

 In the State of Texas, the assessed values of properties are determined by independent appraisal districts on a county-by-county basis. The Williamson County Appraisal District (https://wcad.org) determines the taxable value of all properties for all political subdivisions in Williamson County annually, including the Highlands at Mayfield Ranch MUD.

Your Property Tax Rate is

The property taxes on each property is calculated by taking the taxable assessed value and multiplying it by the tax rate set by the Board of Directors. The 2020 total tax rate is $ 0.5181 per $100 assessed valuation of the home. This rate is made up of two parts, the first, is for the District to make payments on the bonds sold to build the infrastructure of the District, water and sewer lines, etc. In 2019 this Debt Service rate is $0.60 per $100 assessed value. The second part of the total tax rate is the Maintenance and Operation (M&O) rate, in 2020, this is $0.25per $100 assessed valuation. The M&O revenue is used to operate the District, paying for such things as contractors, engineers, accountants, attorneys, utilities, maintenance of District property, etc.
 

Fiscal Year and Financial Info

The District works on a fiscal year from October 1st to September 30th. The bond payments are on a set schedule, so the Debt Service tax rate must be enough to cover those payments. Each year the Board will work on a Maintenance and Operation budget for the coming fiscal year to handle everything needed to run the District. The M&O tax rate is set to cover those budgeted expenses. The tax rate must be set before the end of September each year, and it is done at a Board of Directors meeting which is open to the public.