Adopted Budget FY 2018-2019

Current Property Tax
Current property taxes represent 34% of General Fund revenues and transfers-in. The property tax rate increased
to 47.92¢ per $100 valuation after a recent Bond election that was approved by the Citizens of McAllen to
undertake some major projects while the certified taxable assessed value plus properties under protest, which is
determined by the Hidalgo County Appraisal District, increased 3.38% from last year. Of the increase, new
improvements and/or annexed property reevaluation of properties accounted for an increase of $778, or 79%, and
by reevaluation of properties existing in the prior year, which increased values by $208M, representing 11% offset
by an increase of properties under protest by $652M. The tax rate of 44¢ is allocated to and for General Fund
operations (the M&O rate) and the balance of 3.9¢ is for general obligation debt requiring repayment from
property taxes. The $44.8M budgeted for collection of current property tax increased due to the moderate
increase in values and new improvements. The increase was determined, as shown in the table below:
DETERMINATION OF PROPERTY TAX LEVY AND ESTIMATED COLLECTION
FY 2018-19 Compared to FY 2017-18
--- In Millions -- Increase/Decrease
FY 2018-19 FY 2017-18 Amount %
Certified Taxable Value $9,731 $9,296
Properties Under Protest .048 .163
Certified Taxable Value plus Properties Under
Protest
Certified Taxable Value of Freeze Properties (those
personal residential properties for which the tax levy
has been frozen due owner receiving “over-65 and/or
disabled” eligibility)
Certified Taxable Value plus Properties Under
Protest of Non-Freeze Properties
$9,779 $9,459 $320 3.38%
(.783) (.757)
$8.996 $8.702
Tax Rate $.4792/$100 $.4763/$100
Tax Levy on Non-Freeze Properties $43.110 $40.489 $2.617 .064%
Tax Levy on Freeze Properties $3.754 $3.606 $.148 .41%
Total Tax Levy $46.864 $44.095 $2.765 0.063%
Collection Rate 95% 95%
Budgeted Current Property Tax Revenue $44.416 $41.890 $2.526 .06%
Dedicated for I&S (Debt Service Fund) $3.503 $3.147
Dedicated for M&O (General Fund) $40.913 $38.743 $2.18 .056%
Executive Summary Page ix