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Home My WebLink About13 Statistical-compressed FY2016 Annual Budget STATISTICAL Southwestern Homecoming 263 FY2016 Annual Budget STATISTICAL Miscellaneous Statistical Data ................. 265 Statistical Information Key Indicators ....................................... 266 Tax Rate ................................................ 266 Historical Assessed Value & Tax Rates . 267 Taxable Assessed Value by Type .......... 267 Combined Tax Rate .............................. 268 Peer Benchmarking .............................. 268 City Property Tax Rate Comparison ...... 269 Population & Georgetown Top Ten ......... 270 264 FY2016 Annual Budget MISCELLANEOUS STATISTICAL DATA General City Information Form of Government Council - Manager Area (square miles)55.37 Miles of Streets 638 Number of Street Lights 3,444 2014 Average Unemployment Rate 4.90% Total City Employees 672.75 Recreation and Culture Number of Parks 34 Acres of parkland (includes parkland, developed, undeveloped, open space, etc.)1511 Number of Libraries 1 Number of Library Items in Circulation 527,987 Public Safety Number of Fire Stations 5 Number of Firefighters 104 Number of Police Stations 1 Number of Police Officers 80 Utility Customers Number of Electric Customers 24,566 Number of Water Customers 33,715 Number of Watstewater Customers 23,010 Number of Stormwater Customers 24,384 Number of Sanitation Customers 22,948 Education Number of GISD Attendance Centers 19 Number of Teachers 775 Average Years of Experience 12.8 Student/Teacher Ratio 14:9:1 Total Number of Students 10,924 African-American 4% Hispanic 42% White 50% Economically Disadvantaged 43% Weather Elevation 755 feet Annual Average Temperature 68 Monthly Average High Temperature 96° Monthly Average Low Temperature 39° 265 FY2016 Annual Budget STATISTICAL INFORMATION KEY INDICATORS The average home in Georgetown is now valued at over $234,000. Home values in Georgetown have increased significantly over the past two years. Over this two-year period, US Census data showed the City was the 7th fastest growing city of over $50,000 residents in 2014 and the 2nd fastest growing city in 2015. $39.70 $44.34 $49.71 $51.70 $54.02 $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 FY2012 FY2013 FY2014 FY2015 FY2016 Mi l l i o n s General Fund Budget $1 8 4 . 9 $1 8 5 . 9 $1 9 0 . 8 $2 1 0 . 2 $2 3 4 . 8 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 FY2012 FY2013 FY2014 FY2015 FY2016 Th o u s a n d s Average Residential Value TAX RATE The adopted rate is 43.4 cents per $100 valuation, and represents the second lowest rate in the greater Austin MSA. The effective rate is rate the City would need to charge in order to produce the same amount of property tax revenues as last year while using the new valuations of the current year. Typically, property values appreciate from year to year. In most years, the increased value of a property means a lower tax rate could produce the same amount of revenue. For example, a home valued at $100,000 with a tax rate of 43.4 cents would produce $434 in property tax revenue. If in the following year, the home is now valued at $105,000 the effective rate would be 41.33 cents to produce the same $434 worth of revenue. The effective rate enables the public to evaluate the relationship between taxes for the prior year and for the current year. The rollback rate is the maximum tax rate the City can set before the taxpayers can petition for an election to reduce the tax rate. The rollback rate is equal to the effective rate times 8%. Using the previous example, the rollback would be 44.64 cents. 0.30 0.35 0.40 0.45 0.50 FY2012 FY2013 FY2014 FY2015 FY2016 Tax Rates Adopted Rate Effective Rate Rollback Rate 0.207160 0.207380 0.215970 0.236370 0.222900 0.226840 0.226620 0.223530 0.173630 0.164600 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 FY2016 FY2015 FY2014 FY2013 FY2012 Components of Tax Rate Operations & Maintenance Debt Services 266 FY2016 Annual Budget HISTORICAL CERTIFIED ASSESSED VALUE AND TAX RATE Need language here to describe what the reader is seeing in the table and chart below regarding the Assessed Value and Tax Rate. Include something about growth projections. Fiscal Year Certified Assessed Value Tax Rate Percantage Change Collection Rate FY2006 $2,643,057,606 0.34630 10.54% 98.94% FY2007 $3,060,088,213 0.36730 15.78% 99.28% FY2008 $3,700,498,187 0.35660 20.93% 98.24% FY2009 $4,176,836,943 0.35620 12.87% 98.05% FY2010 $4,173,874,126 0.35620 -0.07% 98.41% FY2011 $4,180,224,985 0.35620 0.15% 99.22% FY2012 $4,350,171,379 0.38750 4.07% 99.24% FY2013 $4,479,836,995 0.41000 2.98% 99.41% FY2014 $4,694,586,750 0.43950 4.79% 98.82% FY2015 $5,253,246,873 0.43400 11.90% Pending FY2016 $5,838,074,642 0.44195 11.13% Pending 0.0 0.2 0.4 0.6 0.8 $0.0 $2.0 $4.0 $6.0 $8.0 FY 2 0 0 6 FY 2 0 0 7 FY 2 0 0 8 FY 2 0 0 9 FY 2 0 1 0 FY 2 0 1 1 FY 2 0 1 2 FY 2 0 1 3 FY 2 0 1 4 FY 2 0 1 5 FY 2 0 1 6 Bi l l i o n s Assessed Value & Tax Rate Certified Assessed Value Tax Rate For FY2016, the Assessed Value (AV) totals $5.83 billion. This represents an increase of 11.13% over last year’s AV and an increase of over 34% compared to five years ago. The increased valuation has allowed the City to maintain a low tax rate while still delivering high levels of service and new programs. In FY2016, the City’s tax rate will remain the same rate of 0.43000 cents per $100 of valuation. The table below details the Assessed Value by Property Type. Property Type FY2012 FY2013 FY2014 FY2015 FY2016 Residential Single Family 2,857,351,025 2,929,698,565 3,087,103,596 3,495,503,571 3,958,977,486 Multi Family 119,056,293 122,070,774 129,132,209 161,091,180 216,831,085 Total Residential 2,976,407,318 3,051,769,339 3,216,235,805 3,656,594,751 4,175,808,571 Commercial 908,743,400 981,555,050 1,011,277,924 1,144,471,358 1,255,117,539 Personal Property 311,033,417 382,683,621 370,699,347 326,852,517 395,688,580 Certified AV Total 4,196,184,135 4,416,008,010 4,598,213,076 5,127,918,626 5,826,614,690 Under Protest 121,964,074 63,828,945 96,373,674 125,328,247 108,051,149 Net Assessed Value 4,318,148,209$ 4,479,836,955$ 4,694,586,750$ 5,253,246,873$ 5,934,665,839$ - 1,000,000,000 2,000,000,000 3,000,000,000 4,000,000,000 5,000,000,000 6,000,000,000 7,000,000,000 FY2012 FY2013 FY2014 FY2015 FY2016 Assessed Value by Type Single Family Multi Family Commercial Personal Property 267 FY2016 Annual Budget COMBINED TAX RATE The total combined property tax bill in the City of Georgetown totals $2.32 per 100 of valuation. Based on the average home value of $234,785, the City of Georgetown’s portion of the average property tax bill totals $1,018.97. PEER BENCHMARKING An important way to measure our economic condition is through benchmarking, which is a point of reference from which measurements or progress can be made. Benchmarking measures our progress from a point in time and is something that serves as a standard by which others may be measured. Georgetown has chosen to measure itself against cities in the surrounding area that have similar size, location or growth issues and benchmarks. Benchmarking data is taken from budgets. 59,391 61,163 137,147 54,843 108,050 54,076 71,761 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Population $5.84 $4.90 $5.00 $3.01 $8.69 $3.39 $3.70 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 Assessed Value $98,299 $80,174 $36,488 $54,934 $80,423 $62,764 $51,550 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Assessed Valuation per Capita $353 $361 $155 $177 $598 $476 $297 $0 $100 $200 $300 $400 $500 $600 Sales Tax per Capita City of Georgetown $1,018.97 Williamson County $1,148.17 Georgetown ISD $3,282.29 Combined Tax Rate 268 FY2016 Annual Budget CITY PROPERTY TAX RATE COMPARISON The City of Georgetown’s tax rate is the second lowest in the region. Taylor 0.813893 Killeen 0.7498 Leander 0.63292 Temple 0.6298 Pflugerville 0.5405 San Marcos 0.5302 Hutto 0.5285 Cedar Park 0.4795 Austin 0.4589 Georgetown 0.434 Round Rock 0.41465 $0.30 $0.50 $0.60 $0.70 $0.80 $0.40 269 FY2016 Annual Budget POPULATION AND GEORGETOWN’S TOP TEN Georgetown is the County Seat for Williamson County, the fastest growing county in the nation as published by Forbes Magazine. This means our city has seen steady growth over the past decade. Our population in 2006 was 41,395 and our projected 2016 population is 59,391, these numbers show a 10-year population growth of 43.5%. 38,438 41,395 44,117 45,710 46,787 47,865 48,902 49,543 50,513 52,214 56,798 59,391 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016* Population *Projected GEORGETOWN’S TOP TEN Taxpayer Assessed Value 1 Citigroup Technology, Inc $90,210,705 2 WPG Wolf Ranch, LLC $64,547,444 3 St David's Healthcare Partnership $33,078,706 4 Citicorp North America $31,901,121 5 The Basshan Trust $31,257,791 6 Two Rivers GT, LTD $21,856,089 7 South Austin Ave Prof. Bldg $21,262,559 8 Georgetown Rail & Equipment Co $17,244,670 9 Hewlett Holdings, LTD $16,325,660 10 Westinghouse Pointe Apts. $16,130,000 Taxpayers (per Cerfitied Roll *) * Does not include some major property owners whose property is under protest as of date of certification. Employer Number of Employees 1 Williamson County Government *1,582 2 Georgetown ISD *1,550 3 City of Georgetown 670 4 St. David's Hospital 512 5 Airborn, Inc 482 6 Southwestern University 450 7 Wesleyan Homes 340 8 HE Butt Grocery *283 9 Caring Home Health *269 10 Sun City (Del Webb)170 Employers * These numbers are the same as FY2015, as updated numbers could not be obtained from the employer. Customer 000 Gallons Consumed 1 Southwest Materials 129,947 2 Southwestern University 54,666 3 City of Georgetown 50,746 4 Georgetown ISD 46,898 5 Citicorp of North America, Inc 43,917 6 Sun City Tx Comm Assoc 38,674 7 Williamson County 34,858 8 Simon Property Group 22,586 9 Georgetown Hospital 19,861 10 Colson & Colson 18,111 Water Customers * Includes potable water only. Non-potable irrigation is not included in total gallons consumed. Customer Volume 1 Citicorp of North America, Inc 39,974 2 Southwestern University 34,365 3 Williamson County 27,647 4 Georgetown ISD 25,233 5 Georgetown Hospital 17,825 6 Cypress Creek Apts 15,347 7 Indian Creek Apts 14,738 8 Georgetown Place Apts 13,765 9 Wesleyan Homes 13,569 10 Waters Edge Apts 12,713 Wastewater Customers 270