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<br /> The Property Tax Code as Appled to the City of San Marcos <br /> 1. Beginning in 1982. the Hays County Appraisal District was responsible for appraising <br /> property in the City as well as other taxing units in the county. The Hays County <br /> Appraisal District is governed by a board of five directors appointed by votes of the <br /> governing bodies of Hays County. the City of San t1arcos. the county and other cities. <br /> towns and school districts in the Appraisal District with votes weighted by relative <br /> tax levy. <br /> 2. The City does not tax personal automobiles. <br /> 3. The City collects its own taxes. <br /> 4. The City has opted to assess the additiona1 15% penalty on delinquent taxes. <br /> 5; The City's next full revaluation will be for the 1986 tax year. <br /> NON-FUNDED DEBT <br /> The City has no unfunded debt outstanding as of January 31.1985. <br /> FUNDED DEBT LIMITATION <br /> There is no direct debt limitation in the City Charter or under State Law. The City operates <br /> under a Home Rule Charter that limits the maximum tax rate. for all City purposes. to $2.50 <br /> per SlOO Assessed Valuation. Administratively. the Attorney General of the State of Texas <br /> will.permit allocation of $1.50 of the $2.50 maximum tax rate for general obligation debt <br /> serVlce. <br /> VALUATION AND FUNDED DEBT HISTORY <br /> Ratio Funded <br /> Net Funded Debt Debt to <br /> Estimated Taxable Outstanding Taxable <br /> Fiscal Actual Assessed at End Assessed <br /> Period Valuation Valuation of Year Valuation <br /> 1974175 S136.144.086 $ 95,300,860 $ 1,898,000 1.99% <br /> 1975176 139.435.086 97,604,560(1) 1.808.000 1. 85% <br /> 1976177 143,580,363 100,506.254 1,703.000 1.69% <br /> 1977 /78 150.216.315 105.151.421 1.673,000 1.59% <br /> 1978179 156.072.491 109.250.744 1.639.000 1.50% <br /> 1979/80 162.225.151 113.557,606 1.514.000 1.33% <br /> 1980/81 172.465,896 120.726,127 1,421,000 1.18% <br /> 1981/82 197,028.839 192.942,536(2) 1,606,000 0.83% <br /> 1982/83 377,315,847 368,454,393(3) 1,969,000 0.53% <br /> 1983/84 408.992.367 396.108.922 7.834,000 1.98% <br /> 1984/85 467.454.529 455,064.587 10.522.000 2.31% <br /> (1) Increase in basis of assessment from 60% to 70%. <br /> (2) Increase in basis of assessment from 70% to 100%. <br /> (3) Fu11 revaluation and first year of appraisal by Hays County ADpraisa1 District. <br /> ESTIMATED FUTURE NET TAXABLE ASSESSED VALUATIONS <br /> 198['. $518.000,000 <br /> 1986 588.000.000 <br /> 1987 670.000.000 <br /> 1988 755.0DO,OOO <br /> 1"989 880,000.000 <br /> Source: City ":ax Office. <br /> -8- <br />