Page 2 - Pantego Adopted Budget FY20

TOWN OF PANTEGO, TEXAS

ANNUAL OPERATING BUDGET
AND PLAN OF SERVICES

FOR FISCAL YEAR 2019-2020

This budget as proposed will raise more revenue from property

taxes than last year’s budget by an amount of $130,533, which
is a 9.6% increase from last year’s budget. The property tax

revenue to be raised from new property added to the tax roll this
year is $252.

City Council Record Vote

The members of the governing body voted on the adoption of the budget as follows:

FOR: Adair, Brewster, Funderlic, Surratt, Wade
AGAINST: None
PRESENT: None
ABSENT: None

Property tax rate comparison: (tax rate per $100 valuation)

Adopted Proposed
FY 2018-19 FY 2019-20
Property Tax Rate $0.420000 $0.420000
Effective Tax Rate $0.388301 $0.387628
Effective Maintenance & Operations Tax Rate $0.388301 $0.387628
Rollback Tax Rate $0.427089 $0.476286
Debt Rate $0.000000 $0.049906

The proposed Property Tax rate is made up of .370094 for maintenance and Operations
And the .049906 debt rate so as to not increase the total rate above that from last year.

The total amount of municipal debt obligation secured by property taxes for the Town of
Pantego is $ 2,735,000.