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

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 Year’s Total Property Taxes Total Property Value 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

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

The “Seesaw” Effect Appraised Property Value Effective Tax Rate

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

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

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

Truth-in-Taxation FY 2018 FY 2017 Operations Effective FY 2018 Effective Property Tax Rate Description Adopted Tax Rate plus Tax Rate Required Debt 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

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

Tax Base Growth Adjusted Taxable Value $140 $122.4 $120 $108.3 $96.2 $100 $86.5 $79.1 $80 $74.5 $72.4 Billions $72.3 $71.8 $71.2 $60 $40 $20 $0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Home Values Average Home Value $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 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 Collin County Tax Bill Average Collin County Tax Bill $700 $8.30 $628.77 $628.96 $600 $609.81 $575.46 $565.49 $538.14 $541.45 $537.03 $527.12 $526.55 $524.90 $500 $400 $300 $200 $100 $‐ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

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. OPERATIONS EFFECTIVE TAXING UNIT TAX RATE PLUS DEBT RATE AVERAGE TAXES Collin Collin County $0.194782 $ 637.25 College City of Plano $0.468600 $ 1,318.57 4% Plano ISD $1.439000 $ 4,595.91 Collin Plano Collin County Community College District $0.079810 $ 274.85 County ISD 10% 67% Total $2.182192 $ 6,826.58 City of Plano TAXING UNIT EFFECTIVE TAX RATE AVERAGE TAXES 19% 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

Motions to Propose a Tax Rate FY 2018 FY 2017 Operations Effective FY 2018 Effective Property Tax Rate Description Adopted Tax Rate plus Tax Rate Required Debt 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

– Next Steps • Purchasing Board Pubic Hearing was held Tuesday, August 1, 2017, 8:30am in the 401 st 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.

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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