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File #: 17-5068   
Type: Staff Briefing - With Ordinance
In control: City Council A Session
On agenda: 9/14/2017
Posting Language: An Ordinance setting the Ad Valorem Tax Rate for Maintenance and Operation of the City of San Antonio at 34.677 cents per $100.00 of taxable valuation for the Tax Year beginning on January 1, 2017, and ending on December 31, 2017.
Attachments: 1. Draft Ordinance - M&O, 2. Ordinance 2017-09-14-0654
Related files: 17-5066, 17-5067, 17-5070, 17-5071, 17-5069
DEPARTMENT: Office of Management and Budget


DEPARTMENT HEAD: Justina Tate


COUNCIL DISTRICTS IMPACTED: City Wide


SUBJECT:

Adopting the Maintenance and Operations Tax Rates for FY 2018


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, 2017 and ending on December 31, 2017. The estimated Property Tax Revenue for Maintenance & Operation for FY 2018 is $342,164,372 or $24,659,594 more than the FY 2017 Adopted Budget.


BACKGROUND INFORMATION:

Property tax values are determined by the Bexar Appraisal District in conformance with State law. FY2017 total taxable value for the City of San Antonio is $107.6 billion which is an increase in net taxable value of $8.3 billion or 8.4% more than the FY 2017 Adopted Budget. Included in this total is an increase of $2.9 billion for new improvements and an increase of $5.4 billion in existing valuations from the FY 2017 Adopted Budget.
The following table shows the components of the FY 2018 Proposed City Property Tax Rate.



CITY PROPERTY TAX RATE (Per $100 Valuation)

FY 2017 Adopted Budget (in cents)
FY 2018 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 2018 Proposed Property Tax Rate of 55.827 cents per $100 valuation represents a consistent rate when compared to the City's FY 2017 Adopted Property Tax Rate. To meet the requirements of General Fund services recommended in the Proposed Budget, the FY 2018 M&O tax rate is calculated at 34.677 cents per $100 of taxable valuation which represents no change for the City's M&O Property Tax Rate.


ALTERNATIVES:

This item is required by City Charter.


FISCAL IMPACT:

The M&O tax rate for FY 2018 will generate $342,164,372 or $24,659,594 more in revenues ...

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