DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: Scott Huizenga
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT: Adopting the Maintenance and Operations Tax Rates for FY 2021
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, 2020 and ending on December 31, 2020. The estimated property tax revenue for maintenance & operation for Tax Year 2020 (also being FY 2021) is $397,924,456, or $16,614,865 more than the FY 2020 Adopted Budget.
BACKGROUND INFORMATION:
Property tax values are determined by the Bexar Appraisal District in conformance with State law. Tax Year 2020 (also being FY 2021) total taxable value for the City of San Antonio is $127.1 billion which is an increase in net taxable value of $6.1 billion, or 5.0% more than the Tax Year 2019 (also being FY 2020) total taxable value. Included in this total is $2.1 billion in new improvements and an increase of $3.8 billion in existing valuations from the FY 2020 Adopted Budget.
The following table shows the components of the Tax Year 2020 (also being FY 2021) Proposed City Property Tax Rate.
CITY PROPERTY TAX RATE (Per $100 Valuation)
FY 2020 Adopted Budget (in cents)
FY 2021 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 Tax Year 2020 (also being FY 2021) Proposed Property Tax Rate of 55.827 cents per $100 valuation represents a consistent rate when compared to the City's Tax Year 2019 (also being FY 2020) Adopted Property Tax Rate. To meet the requirements of General Fund services recommended in the Proposed Budget, the Tax Year 2020 (also being FY 2021) M&O tax rate is calculated at 34.677 cents per $100 o...
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