DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: John Woodruff
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Adopting the Maintenance and Operations Tax Rates for FY 2017
SUMMARY:
This item presents, for City Council consideration, an ordinance adopting the Ad Valorem City Property Tax Rate for Maintenance and Operation (M&O) for the City of San Antonio at 34.677 cents per $100 of taxable valuation for the tax year beginning on January 1, 2016 and ending on December 31, 2016. The estimated Property Tax Revenue for Maintenance & Operation for FY 2017 is $317,504,778 or $23,809,993 more than the FY 2016 Adopted Budget.
BACKGROUND INFORMATION:
Property tax values are determined by the Bexar Appraisal District (BAD) in conformance with State law. FY2017 total taxable value for the City of San Antonio is $99.2 billion which is an increase in net taxable value of $8.6 billion or 9.55% more than the FY 2016 Adopted Budget. Included in this total is an increase of $1.8 billion for new improvements and an increase of $6.8 billion in existing valuations from the FY 2016 Adopted Budget.
The following table shows the components of the FY 2017 Proposed City Property Tax Rate.
CITY PROPERTY TAX RATE (Per $100 Valuation)
FY 2016 Adopted Budget (in cents)
FY 2017 Proposed Budget (in cents)
Maintenance & Operations
34.677
34.677
Debt Service
21.150
21.150
Total
55.827
55.827
ISSUE:
The City's FY 2017 Proposed Property Tax Rate of 55.827 cents per $100 valuation represents a consistent rate when compared to the City's FY 2016 Adopted Property Tax Rate.
State property tax law requires taxing units to calculate the M&O portion of the tax rate to yield the same amount of operating revenue from year to year based on base valuations. This calculation of the M&O tax rate results in determination of the "effective M&O tax rate."
To meet the requirements of General Fund services recommended in the Proposed Budget, the FY 2017 M&O tax rate is calc...
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