C O L L I N C O U N T Y B U D G E T 2 0 1 8 C O L L I N C O U N - - 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 8 C O L L I N C O U N T Y B U D G E T 2 0 1 8 Effective Tax Rate $202,666,352 $105,420,292,177 $ 0.192246 2016 Adjusted 2017 Adjusted This Years Total Property Taxes Total Property Value

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SLIDE 1

C O L L I N C O U N T Y B U D G E T 2 0 1 8

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SLIDE 2

C O L L I N C O U N T Y B U D G E T 2 0 1 8

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SLIDE 3

Effective Tax Rate

$202,666,352 2016 Adjusted Total Property Taxes $105,420,292,177 2017 Adjusted Total Property Value $ 0.192246 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 total revenue it had in the previous fiscal year

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SLIDE 4

Operations Effective Tax Rate

$148,992,600 2016 Adjusted Operations Property Taxes $105,420,292,177 2017 Adjusted Total Property Value $ 0.141332 This Year’s Operations Effective Tax Rate

The Operations Effective Tax Rate is a hypothetical property tax rate that would give the county the same amount of operating revenue it had in the previous fiscal year. This give the County the ability to set the Debt Service tax rate at the amount needed to meet our financial obligations

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The “Seesaw” Effect

Appraised Property Value Effective Tax Rate

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SLIDE 6

Rollback Rate

$148,992,600 2016 Adjusted Operations Property Taxes $105,420,292,177 2017 Adjusted Appraisal Value $ 0.141332 This Year’s Effective Operating Rate $ 0.152639 Maximum Operating Rate 108% The Law $ 0.141332 This Year’s Effective Operating Rate

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SLIDE 7

Total Rollback Rate

$ 0.152639 Maximum Operating Rate $ 0.05345 Debt Tax Rate $ 0.206089 This Year’s Total Rollback Rate

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SLIDE 8

Effective Tax Rates

$ 0.05345 Debt Tax Rate $ 0.141332 This Year’s Effective Operating Rate $ 0.194782 Operations Effective Tax Rate Plus Required Debt Rate $ 0.05345 Debt Tax Rate $ 0.138796 Operating Tax Rate remaining after meeting our Debt Obligation $ 0.192246 This Year’s Effective Tax Rate

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Truth-in-Taxation

Property Tax Rate Description FY 2017 Adopted FY 2018 Operations Effective Tax Rate plus Required Debt Rate FY 2018 Effective Tax Rate General Fund $0.149795 $0.137932 $0.135396 Road & Bridge Fund $0.004000 $0.000400 $0.000400 Permanent Improvement Fund $0.003000 $0.003000 $0.003000 Total Maintenance & Operating Tax Rate $0.153195 $0.141332 $0.138796 Debt Service Fund $0.055200 $0.053450 $0.053450 Total Property Tax Rate $0.208395 $0.194782 $0.192246 Effective Tax Rate $0.208395 $0.192246 Effective Maintenance & Operating Tax Rate $0.157270 $0.141332 Rollback Maintenance & Operating Tax Rate $0.169851 $0.169851 Debt Tax Rate $0.055200 $0.053450 Effective M & O Tax Rate plus Debt Tax Rate $0.212470 $0.194782 Rollback Tax Rate $0.225051 $0.206088

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Tax Rate

  • Current Tax Rate is $0.208395 per $100 valuation
  • No tax rate increase for twenty‐four years
  • 5% Homestead Exemption for eight 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 2018

M & O Tax Rate Debt Service Tax Rate

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SLIDE 11

Tax Base Growth

$0 $20 $40 $60 $80 $100 $120 $140

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

$71.8 $72.3 $71.2 $72.4 $74.5 $79.1 $86.5 $96.2 $108.3 $122.4

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

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Adjusted Taxable Value $230,813 $235,031 $233,591 $231,192 $230,944 $230,218 $238,030 $257,767 $285,262 $317,599 $344,382

Average Home Value

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SLIDE 13

Average Collin County Tax Bill

$‐ $100 $200 $300 $400 $500 $600 $700 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

$565.49 $541.45 $538.14 $527.12 $526.55 $524.90 $537.03 $575.46 $609.81 $628.77 $628.96 $8.30

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 $344,382 according to statistics compiled by the Central Appraisal District of Collin County.

Collin County 10% City of Plano 19% Plano ISD 67% Collin College 4%

TAXING UNIT OPERATIONS EFFECTIVE TAX RATE PLUS DEBT RATE AVERAGE TAXES Collin County $0.194782 $ 637.25 City of Plano $0.468600 $ 1,318.57 Plano ISD $1.439000 $ 4,595.91 Collin County Community College District $0.079810 $ 274.85 Total $2.182192 $ 6,826.58 TAXING UNIT EFFECTIVE TAX RATE AVERAGE TAXES Collin County $0.192246 $ 628.96 City of Plano $0.468600 $ 1,318.57 Plano ISD $1.439000 $ 4,595.91 Collin County Community College District $0.079810 $ 274.85 Total $2.179656 $ 6,818.29

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Motions to Propose a Tax Rate

Property Tax Rate Description FY 2017 Adopted FY 2018 Operations Effective Tax Rate plus Required Debt Rate FY 2018 Effective Tax Rate General Fund $0.149795 $0.137932 $0.135396 Road & Bridge Fund $0.004000 $0.000400 $0.000400 Permanent Improvement Fund $0.003000 $0.003000 $0.003000 Total Maintenance & Operating Tax Rate $0.153195 $0.141332 $0.138796 Debt Service Fund $0.055200 $0.053450 $0.053450 Total Property Tax Rate $0.208395 $0.194782 $0.192246 Effective Tax Rate $0.208395 $0.192246 Effective Maintenance & Operating Tax Rate $0.157270 $0.141332 Rollback Maintenance & Operating Tax Rate $0.169851 $0.169851 Debt Tax Rate $0.055200 $0.053450 Effective M & O Tax Rate plus Debt Tax Rate $0.212470 $0.194782 Rollback Tax Rate $0.225051 $0.206088

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– Next Steps

  • Purchasing Board Pubic Hearing was held Tuesday, August 1, 2017, 8:30am in the

401st District Courtroom

  • Community Supervision and Corrections Department Public Hearing was held

Wednesday, August 2, 2017, at 8:15am in the Nathan White Ceremonial Courtroom

  • Juvenile Board Public Hearing scheduled for Wednesday, August 30, 2017,

8:15am in the 417th District Court Courtroom

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

scheduled for Friday, September 1, 2017 at 8:30am in the 199th District Courtroom

  • 1st Tax Rate Public Hearing Scheduled for Tuesday, September 5, 2017,

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

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SLIDE 17

Next Steps

  • 2nd Tax Rate Public Hearing scheduled for Monday, September 11, 2017,

1:30pm 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 11th.

  • Budget Public Hearing scheduled for Monday, September 18, 2017,

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

  • Adoption of FY 2018 Budget, Tax Rate, and Fee Schedule scheduled for

Monday, September 18, 2017, 1:30 pm, in the Jack Hatchell Administration Building, Commissioners Courtroom.

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