Loading...
HomeMy WebLinkAbout00 Cover_FINAL-compressed Red Poppy Capital of Texas Fiscal Year 2016 BUDGET and Five-Year Capital Improvement Plan 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 $2,196,028, which is a 10.6% increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $882,823. The Georgetown City Council adopted this budget during it’s regularly scheduled Council meeting on September 8, 2015. The record vote by each councilmember for the FY2016 Adopted Budget went as follows: For: District 1: Councilmember Eby District 3: Councilmember Hesser District 4: Councilmember Fought District 5: Councilmember Gipson District 6: Councilmember Jonrowe District 7: Councilmember Gonzalez Against: None Present and not voting: None Absent: District 2: Councilmember Brainard Tax Rate Comparison for the municipal property tax rates for the City of Georgetown are as follows: FY2015 FY2016 Property Tax Rate: $0.43400 $0.43400 Effective Tax Rate: $0.41715 $0.42344 Effective Maintenance & Operations Tax Rate: $0.23108 $0.24404 Rollback Tax Rate: $.44222 $0.45152 Debt Rate: $.22684 $0.22662 FY2016 City of Georgetown Annual Budget The total amount of municipal debt obligation for the City of Georgetown secured by property taxes: $129,954,919.