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<br />Ten Largest Taxpayers
<br /> 1990 % of Total
<br /> Taxable Taxable
<br /> Assessed Assessed
<br />Name of Taxpayer Nature of Property Valuation Valuation
<br />NationalOilwell Oilfield Equipment $18,566,575 2.84%
<br />San Marcos Telephone Company Telephone Utility 8,121,770 1.24%
<br />H. E. B. Grocery Company Grocery Store 7,009,650 1.07%
<br />Kroger Company Distribution Center 7,006,650 1.07%
<br />Springtown Center Commercial Real Estate 4,232,540 0.65%
<br />Brown Schools of San Marcos Real Estate 3,894,460 0.60%
<br />Outlook Growth Fund Apartments 3,694,800 0.57%
<br />BMC Real Estate Apartments 3,618,120 0.55%
<br />Wide-Lite Corporation Illu mina tion Manufacturer 3,485,930 0.53%
<br />San Marcos Limited Apartments 3,442,550 0.53%
<br /> $63,073,045 9.66%
<br />Tax Rate Limitation
<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 the
<br />constitutional provisions.
<br />By each September 1 or as soon thereafter as practicable, the City Council adopts a tax rate per $100
<br />taxable value for the current year. The tax rate consists of two components: (1) a rate for funding of
<br />maintenance and operation expenditures, and (2) a rate for debt service.
<br />Under the Tax Code:
<br />The City must annually calculate and publicize its "effective tax rate" and "rollback tax rate". The City
<br />Council may not adopt a tax rate that exceeds the lower of the rollback tax rate or 10396 of the effective
<br />tax rate until it has held a public hearing on the proposed increase following notice to the taxpayers and
<br />otherwise complied with the Tax Code. If the adopted tax rate exceeds the rollback tax rate the qualified
<br />voters of the City by petition may require that an election be held to determine whether or not to reduce
<br />the tax rate adopted for the current year to the rollback tax rate.
<br />"Effective tax rate" means the rate that will produce last year's total tax levy (adjusted) from this year's
<br />total taxable values (adjusted). "Adjusted" means lost values are not included in the calculation of last
<br />year's taxes and new values are not included in this year's taxable values.
<br />"Rollback tax rate" means the rate that will produce last year's maintenance and operation tax levy
<br />(adjusted) from this year's values (adjusted) multiplied by 1.08 plus a rate that will produce this year's debt
<br />service from this year's values (unadjusted) divided by the anticipated tax collection rate.
<br />The Tax Code provides that certain cities and counties in the State may submit a proposition to the voters
<br />to authorize an additional one-half cent sales tax on retail sales of taxable items. If the additional tax is
<br />levied, the effective tax rate and the rollback tax rate calculations are required to be offset by the
<br />revenue that will be generated by the sales tax in the current year. The City (does) (does not) collect the
<br />additional one-half cent sales tax.
<br />Reference is made to the Tax Code for definitive requirements for the levy and collection of ad valorem
<br />taxes and the calculation of the various defined tax rates.
<br />Assessed Valuations, Tax Rates, Outstanding Debt and Authorized But Unissued Bonds of Overlapping
<br />Taxing Jurisdictions
<br /> 1990 Outstanding Authorized
<br /> Taxable 1990 Tax Supported But Unissued
<br /> Assessed Tax Debt As of Debt As of
<br />Taxin¡;: Jurisdiction Valuation Rate 3-31-91 3-31-91
<br />Caldwell County $ 469,939,858 $0.5103 $ 3,776,000 $ -0-
<br />Hays County 1,903,996,227 0.3588 12,410,000 -0-
<br />San Marcos Independent School District 883,766,623 1.2400 10,469,965 -0-
<br />Upper San Marcos Watershed Reclamation
<br />and Flood Control District 763,681,674 0.2000 1,"25,000 450,000
<br />Source: "Texas Municipal Reports" published by the Municipal Advisory Council of Texas.
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