San Marcos council sets tax rate hearings
SUBMITTED REPORT
The San Marcos City Council will hold the first of two public hearings on the proposed property tax rate and a packet workshop to review the regular meeting agenda on Friday, August 31 at 12 noon.
A second public hearing on the tax rate and a hearing on the proposed 2012-2013 budget will take place at the Sept. 4 City Council meeting. The public is invited to speak at the hearings.
The proposed tax rate of $0.5302 would increase total tax revenues from properties on the tax roll by 1.2%. The Hays County Central Appraisal District has increased the average taxable home value in San Marcos from $119,208 last year to $120,095 in 2012.
The average homeowner’s tax bill would increase from $632.04 to $636.75 (or $4.71) at the same tax rate of $0.5302/ $100 value. If the City adopts the effective tax rate of $0.5239, the rate that would generate the same revenue as the previous year, the tax bill on the average home would be $629.17.
Individual taxes depend on any changes in the taxable value of a piece of property and the tax rate that is adopted.
Final adoption of the budget is anticipated at the Sept. 18 City Council meeting.
Friday’s packet workshop is an opportunity for City Council members to go over the Sept. 4 regular meeting agenda and gather additional information from staff. No action will be taken.
City Council meetings are held at City Hall, 630 E. Hopkins and are open to the public. Meetings are televised live on Time Warner Channel 10, Grande Channel 16 and video-streamed on the web at www.sanmarcostx.gov.
RELATED IN THE MERCURY:
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- Council to discuss budget policy at workshop | 03/30/2011
- San Marcos plans two budget workshops | 08/05/2009
Posted by Brad Rollins
on 08/27/2012. Filed under Featured, News, San Marcos.
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3 Responses to San Marcos council sets tax rate hearings
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It would be interesting to know what last year’s property tax revenue was (overall) for the city and what is the forecast revenue with this rate increase. Even without that info, I will say I support this tax increase.
Projected property tax revenue is just over $15M at the new rate. The rate increase adds about a half million. You can find the entire proposed budget on the city’s website at http://sanmarcostx.gov/modules/showdocument.aspx?documentid=4768. If that link gets removed, you can navigate to it by following Departments > Finance > Taxes.
My tax bill from last year lists the city tax rate at .5302 same as listed above for next year.