C O L L I N C O U N T Y B U D G E T 2 0 1 7 General Fund Budget - - PowerPoint PPT Presentation

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C O L L I N C O U N T Y B U D G E T 2 0 1 7 General Fund Budget - - PowerPoint PPT Presentation

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C O L L I N C O U N T Y B U D G E T 2 0 1 7 General Fund Budget : Five-Year Trend $200 $8.1 $180 $7.5 $185.2 $11.6 $175.5 $160 $166.6 $158.4 $152.0 $140 $120 Recommended Budget Millions $100 $80 $60 $40 $20 5.0 % 5.3 % 5.5

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C O L L I N C O U N T Y B U D G E T 2 0 1 7

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$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200

FY 2013 Adopted FY 2014 Adopted FY 2015 Adopted FY 2016 Adopted FY 2017 Recommended

$152.0 $158.4 $166.6 $175.5 $185.2 $11.6 $7.5 $8.1

Expenditures One‐time Millions

General Fund Budget : Five-Year Trend

4.4% 5.0% 5.3% 5.5%

Recommended Budget

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$0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 $24

FY 2013 Adopted FY 2014 Adopted FY 2015 Adopted FY 2016 Adopted FY 2017 Recommended

$20.5 $22.4 $22.5 $23.3 $23.2

Adopted Budget Millions

Road & Bridge Fund Budget : Five-Year Trend

9.1% 0.4% 3.2% ‐0.4%

Recommended Budget

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$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 $240

FY 2013 Adopted FY 2014 Adopted FY 2015 Adopted FY 2016 Adopted FY 2017 Recommended

$173.8 $183.0 $190.8 $201.7 $213.6 $11.6 $1.0 $7.5 $8.1

Expenditures One‐time Millions

Operating Funds Budget : Five-Year Trend

5.4% 4.2% 5.7% 5.9%

Recommended Budget

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Operating Funds - Detail

Fund FY 2016 Revenue Estimate FY 2017 Revenue Estimate % Change General Fund $184.5 $201.9 9.4% Road & Bridge Fund $21.9 $20.7 ‐5.5% Permanent Improvement Fund $12,000 $5.4 % Total Operating $206.4 $228.0 10.5%

Millions

Fund FY 2016 Adopted Budget FY 2017 Recommended Budget % Change General Fund $183.0 $193.3 5.6% Road & Bridge Fund $23.3 $23.2 ‐0.4% Permanent Improvement Fund $3.0 $5.3 76.9% Total Operating $209.2 $221.8 6.0%

$‐ $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 $180.0 $200.0 $220.0

$228.0 $213.6 $8.1

Revenue Expenditures One‐Time Expenditures

FY 2017 Recommended Revenue Estimate Recommended Budget

Recommended revenue does not include potential tax rate reduction

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$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 $4.5

FY 2013 Adopted FY 2014 Adopted FY 2015 Adopted FY 2016 Adopted FY 2017 Recommended

$4.2 $3.7 $3.9 $4.0 $4.3

Healthcare Fund Budget : Five-Year Trend

‐12.8% 6.4% 2.4% 7.4%

Millions

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Other Funds FY 2017 Recommended

$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0

Grants Special Revenue Internal Service CSCD CCTRA

$2.4 $5.8 $29.4 $9.9 $0.0 $2.4 $5.6 $29.8 $6.6 $6.00

Revenues Expenditures Millions

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$0 $50 $100 $150 $200 $250 $300 $350

FY 2013 Adopted FY 2014 Adopted FY 2015 Adopted FY 2016 Adopted FY 2017 Recommended

$259.1 $266.7 $280.5 $303.0 $327.0 $13.1 $21.0 $7.5 $8.1

Expenditures One‐time Millions

Combined Funds Budget : Five-Year Trend

2.9% 5.2% 8.1% 7.9%

Recommended Budget

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Combined Funds

Millions

$‐ $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0

$336.8 $327.0 $8.1

Revenue Expenditures One‐Time Expenditures

FY 2017 Recommended Revenue Estimate Recommended Budget

Recommended revenue does not include potential tax rate reduction

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C O L L I N C O U N T Y B U D G E T 2 0 1 7

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C O L L I N C O U N T Y B U D G E T 2 0 1 7

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Effective Tax Rate

$195,212,981 2015 Adjusted Total Property Taxes $93,674,057,987 2016 Adjusted Total Property Value $ 0.208395 This Year’s Effective Tax Rate

The Effective Tax Rate is a hypothetical property tax rate that would give the county the same amount of revenue it had in the previous fiscal year

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The “Seesaw” Effect

Appraised Property Value Effective Tax Rate

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Rollback Rate

$147,321,178 2015 Adjusted Operations Property Taxes $93,674,057,987 2016 Adjusted Appraisal Value $ 0.157270 This Year’s Effective Operating Rate $ 0.169851 Maximum Operating Rate 108% The Law $ 0.157270 This Year’s Effective Operating Rate

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Total Rollback Rate

$ 0.169851 Maximum Operating Rate $ 0.055200 Debt Tax Rate $ 0.225051 This Year’s Total Rollback Rate

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Tax Rate included in the Recommended Budget

$ 0.055200 Debt Tax Rate $ 0.16980 Operating Tax Rate included in the Recommended Budget $ 0.22500 This Year’s Tax Rate included in the Recommended Budget

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Truth-in-Taxation

This recommended budget will raise more total property taxes than last year’s budget by an amount of $19,141,698 which is a 9.61 percent increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $7,565,661.66. Property Tax Rate Description FY 2016 Adopted FY 2017 Recommended General Fund $0.165800 $0.164400 Road & Bridge Fund $0.004000 $0.000400 Permanent Improvement Fund $0.000000 $0.005000 Total Maintenance & Operating Tax Rate $0.169800 $0.169800 Debt Service Fund $0.055200 $0.055200 Total Property Tax Rate $0.225000 $0.225000 Effective Tax Rate $0.217817 $0.208395 Effective Maintenance & Operating Tax Rate $0.164310 $0.157270 Rollback Tax Rate $0.232654 $0.225051 Rollback Maintenance & Operating Tax Rate $0.177454 $0.169851 Debt Tax Rate $0.055200 $0.055200

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Tax Rate

  • Current Tax Rate is $0.22500 per $100 valuation
  • Recommended Budget Includes a Tax Rate of $0.22500
  • No tax rate increase for twenty‐three years
  • 5% Homestead Exemption for seven years

$0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

M & O Tax Rate Debt Service Tax Rate

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Tax Base Growth

$0 $20 $40 $60 $80 $100 $120

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

$68.5 $71.8 $72.3 $71.2 $72.4 $74.5 $79.1 $86.5 $96.2 $107.7

Adjusted Taxable Value

Billions

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Home Values

$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Adjusted Taxable Value $221,701 $230,813 $235,031 $233,591 $231,192 $230,944 $230,218 $238,030 $257,767 $285,262 $317,599

Average Home Value

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Average Collin County Tax Bill

$‐ $100 $200 $300 $400 $500 $600 $700 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $543.17 $565.49 $541.45 $538.14 $527.12 $526.55 $524.90 $537.03 $575.46 $609.81 $678.87

Average Collin County Tax Bill

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Average Tax Bill

The following is a property tax analysis for an average homeowner living in Collin County. The average home in Collin County is valued at $317,599 according to statistics compiled by the Central Appraisal District of Collin County.

Collin County 11% City of Plano 19% Plano ISD 66% Collin College 4%

TAXING UNIT TAX RATE AVERAGE TAXES Collin County $0.2250000 $ 678.87 City of Plano $0.4766000 $ 1,216.02 Plano ISD $1.4390000 $ 4,210.50 Collin County Community College District $0.0819600 $ 260.30 Total $2.2234560 $ 6,391.10

Utilizes FY 2017 Recommended Tax Rates

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General Fund

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Road & Bridge Fund

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Permanent Improvement Fund

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Healthcare

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Motions to Propose a Tax Rate

Property Tax Rate Description FY 2016 Adopted FY 2017 Recommended General Fund $0.165800 $0.164400 Road & Bridge Fund $0.004000 $0.000400 Permanent Improvement Fund $0.000000 $0.005000 Total Maintenance & Operating Tax Rate $0.169800 $0.169800 Debt Service Fund $0.055200 $0.055200 Total Property Tax Rate $0.225000 $0.225000 Effective Tax Rate $0.217817 $0.208395 Effective Maintenance & Operating Tax Rate $0.164310 $0.157270 Rollback Tax Rate $0.232654 $0.225051 Rollback Maintenance & Operating Tax Rate $0.177454 $0.169851 Debt Tax Rate $0.055200 $0.055200

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– Next Steps

  • Purchasing Board Pubic Hearing scheduled for Wednesday, August 24,

2016, 8:30 am in the Nathan White Ceremonial Courtroom

  • Board of District Judges Public Hearing for the County Auditor scheduled

for Wednesday, August 31, 2016 at 8:15am in the 199th District Courtroom

  • Juvenile Board Public Hearing scheduled for TBD in the 417th District Court

Courtroom

  • 1st Tax Rate Public Hearing Scheduled for Tuesday, September 6, 2016,

scheduled for TBD in the Jack Hatchell Administration Building, Commissioners Courtroom.

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Next Steps

  • 2nd Tax Rate Public Hearing scheduled for Monday, September 12, 2016,

1:30 pm in the Jack Hatchell Administration Building, Commissioners Courtroom.

  • Proposed Budget (to include any changes approved during this workshop)

to be filed and posted on County’s website Monday, September 12th.

  • Budget Public Hearing scheduled for Monday, September 19, 2016,

1:30pm in the Jack Hatchell Administration Building, Commissioners Courtroom.

  • Adoption of FY 2017 Budget, Tax Rate, and Fee Schedule scheduled for

Monday, September 19, 2016, 1:30 pm, in the Jack Hatchell Administration Building, Commissioners Courtroom.

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