MMMM...i thought the alcohol sales were gona keep property taxes down?
They did, and in the 2 years of extremely high growth, the tax rate was dropped by $0.080297
2007 - 0.575000 (Adopted 14 Sep 07)
2006 - 0.525000
2005 - 0.525000
2004 - 0.499703
2003 - 0.499703
2002 - 0.580000
2001 - 0.580000
2000 - 0.529900
Previous councils were banking on the development to keep the city afloat, and it did. Now that the development has dropped off, rates have to go up again.
Also note that this is the city tax rate. The school tax rate is about 3x what's shown. This information can be found from the
Collin County Central Appraisal DistrictMMMM...i thought the alcohol sales were gona keep property taxes down?
Do you have any idea how high they'd be right now if it weren't for Alcohol Tax Revenue?
I think the current estimates for
sales tax revenue from alcohol sales is 35% - 36% of the total sales tax. I haven't done extensive research on this yet, and don't have the budget in front of me, so can't give an accurate number. But it is within 1 order of magnitude of the 35% - 36% number.
Each $0.01 increase in city tax brings in approximately $35k in revenue. Once I get some more numbers in front of me, I can give a better idea.