FY14 Ad Valorem Tax Rate Adoption
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FY14 Ad Valorem Tax Rate Adoption

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    FY14 Ad Valorem Tax Rate Adoption FY14 Ad Valorem Tax Rate Adoption Presentation Transcript

    • Ad Valorem Tax Rate Adoption City of College Station September 12, 2013
    • Ad Valorem Tax Rate  Total Assessed Valuation: $6.23 billion  Current Tax Rate 43.0687 cents  Effective Tax Rate 42.5958 cents  Proposed Tax Rate 42.5958 cents  Each cent on the tax rate generates approximately $576,000
    • Ad Valorem Tax Rate  August 21 - Discussed tax rate and decided not to consider a rate higher than the effective rate of 42.5958 cents  No additional public hearings or notices required  September 12 - Vote on Tax Rate
    • Proposed Rate FY 13 FY 14  General Fund rate 23.5052 (0.2147) 23.2905  Debt Service rate 19.5635 (0.2582) 19.3053  Total 43.0687 (0.4729) 42.5958  Funds the approved budget  Generates approximately $26.4 million
    • Council Action  Adoption of the FY 2013-2014 tax rate ordinance  Must be adopted as two separate components  General Fund 23.2905  Debt Service 19.3053  Total Tax Rate 42.5958