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ORDINANCE NO. 2018-25 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR <br />THE 2018 TAX YEAR AT 61.39 CENTS ON EACH $100 OF <br />TAXABLE VALUE OF REAL PROPERTY THAT IS NOT <br />EXEMPT FROM TAXATION; LEVYING TAXES FOR THE <br />USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT <br />OF THE CITY FOR THE FISCAL YEAR BEGINNING <br />OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; <br />PROVIDING A SINKING FUND FOR THE RETIREMENT <br />OF THE BONDED DEBT OF THE CITY; INCLUDING <br />PROCEDURAL PROVISIONS; AND PROVIDING AN <br />EFFECTIVE DATE. <br />RECITALS: <br />1. State law requires the City Council to set the time and place of two public hearings on <br />the City's proposed tax rate. <br />2. The City Council set August 21, 2018 and September 4, 2018 as the dates of the public <br />hearings on the proposed tax rate and directed staff to publish notice of the public hearings in a <br />newspaper of general circulation in the City. <br />3. Notice of the public hearing on the proposed tax rate was published in a newspaper of <br />general circulation on August 5, 2018. <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />SECTION 1. The City Council levies, approves, and orders to be assessed and collected <br />for Fiscal Year 2018-2019 on all property in the corporate limits of the City of San Marcos that is <br />not exempt from taxation, a property (ad valorem) tax at the rate of $61.39 per $100 of taxable <br />value. <br />THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND <br />OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX RATE WILL <br />EFFECTIVELY BE RAISED BY 3.9 PERCENT AND WILL RAISE TAXES FOR <br />MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY <br />APPROXIMATELY $24.00. <br />