CITY OF PFLUGERVILLE TAX BILL BREAKDOWN
CONTINUED FROM 1
TERMS TO KNOW
2021-22
2022-23
Percent change
-1.03%
$0.4863
$0.4813
Tax rate
P ugerville’s adopted tax rate for FY 2022-23 is slightly higher than the no-new-revenue rate of $0.3966 and will result in a yearly bill increase of approximately $155 for the average homeowner.
Average taxable property value
Cities and school districts are responsible for approving and maintaining their budgets and setting the tax rates. Here are some common terms to know to understand the process. NO NEW REVENUE RATE The tax rate at which an entity would raise the same amount of property tax revenue as the prior scal year before factoring in newly built properties VOTER APPROVAL RATE The highest tax rate an entity can adopt without having to hold an election
+12.94%
$271,238
$306,325
$1,319
+$155
Yearly bill
$1,474
MONEY OUT
MONEY IN The “other” category includes smaller revenue sources, such as solid waste and franchise fees and development permits. REVENUE BY SOURCE
EXPENDITURES BY FUNCTION
Expenditures increased over 19% from the previous year. About 65% of the city’s expenses are related to capital improvements, such as water, roads and parks. Personnel expenses account for 12% of expenditures.
Capital improvements: $245.79M
Personnel services: $45.21M
Other: $62.22M
Water and wastewater projects BIGGEST EXPENSES
Operating expenditures: $41.03M
$156.2M Includes $37M to build a new wastewater treatment plant
Bond proceeds: $47.1M Water revenue: $36.6M Property tax: $31.48M
Sales tax: $26.84M
MAINTENANCE AND OPERATIONS RATE
Other: $27.74M
Wastewater revenue: $22.69M Impact fees: $17.08M
The portion of the tax rate that is used to fund most standard operations, such as salaries and utilities INTEREST AND SINKING RATE The portion of the tax rate that is used to pay down the city or district’s debt from bonds and other sources MARKET VALUE The amount of money for which a home can sell on the housing market ASSESSED VALUE The value used to determine a home’s value for the purpose of property taxes HOMESTEAD EXEMPTION This removes some of a home’s value from being taxed; school districts must o er a $40,000 exemption, and other entities may exempt up to 20% of a home’s value. Further, a homestead exemption caps a home’s yearly assessed value at a 10% increase from the previous year. RECAPTURE Refers to payments a school district must make to the state when it raises property taxes beyond a threshold based on its overall attendance FUND BALANCE Funds left over from previous years when revenues exceeded expenditures GENERAL FUND This is the main fund in a city or school district’s budget that allows the entity to provide basic services. Revenues for the general fund come from a variety of sources.
Transportation and road projects
Debt service: $20.13M
$58.5M
Total: $379.9M
Total: $244.01M
Parks and recreation projects $22.4M
+19.17% year-over-year change
- 14.86% year-over-year change
SOURCE: CITY OF PFLUGERVILLE COMMUNITY IMPACT
An upcoming voter approval tax rati cation election this November could result in a lower tax rate for P ugerville ISD over last year. If voters approve the new rate, property owners would pay about $150 less than last year on their tax bill. PFLUGERVILLE ISD TAX BILL BREAKDOWN
2021-22
2022-23 Percent change $1.2646 -8.89%
Tax rate
$1.388
Average taxable property value
$264,890 $278,651
+5.19%
$3,677
Yearly bill
$3,524
-$153
MONEY OUT
MONEY IN The district anticipates receiving 51.7% less funding from state sources this scal year at $34 million compared to last year’s $70.4 million. Local revenues are based on a tax rate that requires voter approval in November. REVENUE BY SOURCE
EXPENDITURES BY FUNCTION
Because salaries account for the district’s largest expense, ocials aim to attract and retain employees.
Instruction: $163.8M
Student services: $32.6M
Instruction BIGGEST EXPENSES
Support services: $31.2M
$163.8M Accounts
Instructional and school leadership: $18.8M
for 61.3% of expenditures up from $20 million last scal year
Facilities and maintenance operations
Other: $13.3M
Local: $219.6M State: $33.98M Federal: $ 6.86M
General administration: $7.4M
$23.5M
Total: $267.1M
Recapture payments $12M
Total: $260.44M
+2.97% year-over-year change
For the rst time, the budget includes money set aside for recapture payments.
+0.97% year-over-year change
SOURCE: PFLUGERVILLE ISD COMMUNITY IMPACT
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