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Posted on: August 13, 2019

Tax Revenue Increase

City of Texarkana, Texas Annual Budget

Fiscal Year Ending 9/30/20



In accordance with the passage of S.B. No. 656, Local Government Code, Sec. 102.007, was amended to require that an adopted municipal budget must contain a cover page that includes the following information:



This budget will raise more revenue from property taxes than last year’s budget by an amount of $276,185 which is a 1.5% increase from last year’s budget.  The property tax revenue to be raised from new property added to the tax roll this year is $198,210.




 

Property Tax Rate Comparison                                        2018-2019           2019-2020


Property Tax Rate                                                                $0.700000/100     $0.700000/100

Effective Tax Rate                                                               $0.691816/100     $0.697350/100

Effective Maintenance & Operations Tax Rate               $0.473770/100     $0.535146/100

Rollback Tax Rate                                                               $0.725134/100     $0.787911/100

Debt Rate                                                                              $0.155800/100     $0.151262/100




The total amount of municipal debt obligations is:


Principal                    $43,820,000

Interest                       $10,505,415

Debt Service             $54,325,415

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