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<br />Property within the City is assessed as of January I of each year; taxes become due October 1 of the
<br />same year, and become delinquent on February I of the foJlowing year. Split payments are not permitted.
<br />Discounts are not allowed.
<br />
<br />Charges for penalty and interest on the unpaid balance of delinquent taxes are made as £0140ws:
<br />
<br />Month Penal ty Interest Total
<br />February 6% 1% 7%
<br />March 7% 2% 9%
<br />April 8% 3% 11%
<br />May 9% 4% 13%
<br />June 10% 5% 15%
<br />July 12% 6% 18%
<br />
<br />Ten Largest Taxpayers
<br />
<br />Name of Taxpayer
<br />Kroger Company
<br />H. Y. Price Enterprises
<br />San Marcos Valve
<br />San Marcos Place Apartments
<br />Wide-Lite Corporation
<br />Butler Manufacturing Company
<br />River Ridge Joint Ventures
<br />Springtown Center
<br />Brown School
<br />San Marcos Association of Limited
<br />Partners
<br />
<br />1987 Net
<br />Taxable
<br />Assessed
<br />Valuation
<br />$ 28,938,410
<br />14,565,590
<br />13,141 ,130
<br />10,557,280
<br />7,203,040
<br />6,044,090
<br />5,353,790
<br />5,042,330
<br />4,790,530
<br />
<br />4,783,410
<br />$100,419,600
<br />
<br />Na ture of Property
<br />Grocery, Warehouse Terminal
<br />Telephone UtiHty
<br />Oil Field Valve Manufacturer
<br />Apartments
<br />lUumination Manufacturer
<br />Metal Building Manufacturer
<br />Apartments
<br />Commercial Properties
<br />Medical Treatment Center
<br />
<br />Apartments
<br />
<br />Tax Rate Limitation
<br />
<br />% of 1987
<br />Net Taxable
<br />Assessed
<br />Valuation
<br />3.66%
<br />1.84%
<br />1.66%
<br />1.3396
<br />0.91%
<br />0.76%
<br />0.68%
<br />0.64%
<br />0.61%
<br />
<br />0.60%
<br />12.69%
<br />
<br />All taxable property within the City is subject to the assessment, levy and collection by the City of a
<br />continuing, direct annual ad valorem tax sufficient to provide for the payment of principal of and interest
<br />on all ad valorem tax debt within the limits prescribed by law. Article XI, Section 5, of the Texas
<br />Constitution is applicable to the City, and limits its maximum ad valorem tax rate to $2.50 per $100
<br />Assessed Valuation (for all City purposes). The City operates under a Home Rule Charter which adopts
<br />the constitutional provisions.
<br />
<br />By each September 1, or as soon as practicable thereafter, the City must adopt a tax rate for the current
<br />year. If the effective tax rate, excluding tax rates for bonds and other contractual obligations and
<br />adjusted for new improvements, exceeds the rate for the previous year by more than 396, the City Council
<br />must hold a pubHc hearing, and if the "rollback" tax rate (i.e. maintenance tax only) exceeds the rate for
<br />the previous year by more than 8%, qualified voters of the City may petition for an election to determine
<br />whether to limit the tax rate to no more than 8% above that of the previous year.
<br />
<br />Assessed Valuations, Tax Rates, Outstanding Debt and Authorized But Unissued Bonds of Overlapping
<br />Taxing Jurisdictions
<br />
<br /> 1987 Outstanding Authorized
<br /> Taxable 1987 Tax Supported But Unissued
<br /> Assessed Tax Debt As of Debt As of
<br />Taxing Jurisdiction Valuation Rate 8-31-88 8-31-88
<br />City of San Marcos $ 791,184,556 $0.4900 $8,156,000 $920,000
<br />San Marcos Consolidated Independent
<br />School District 1,068,753,516 0.8309 11,780,000 -0-
<br />Upper San ~larC05 Watershed
<br />Reclamation and Flood
<br />Control District 919,353,034 0.0300 1,575,000 450,000
<br />Hays County 2,293,499,158 0.2595 13,105,000 -0-
<br />Caldwell County N/A N/A 408,000 N/A
<br />
<br />Source: "Texas Municipal Reports" published by the Municipal Advisory Council of Texas.
<br />
<br />A-8
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