Page 50 - Watauga FY21 Budget
P. 50
BUDGET OVERVIEW
The following graph demonstrates the historic collection cycle of property tax for the
City.
Ad valorem taxes are billed October 1 of every year and are due on or before January
31 of the next calendar year. Projections for delinquent tax revenues for those collected
after January 31 are based on conservative prior years’ experience, as well as interest
and penalties on delinquent ad valorem taxes.
The City is located in two different independent school districts (ISDs); so overlapping
property taxes vary by what section of the City in which a property is located. The City‘s
portion has historically been less than one-fourth of the entire property tax bill for the
area.
The City offers a $40,000 senior citizen exemption from assessed values and has
incorporated the over-65 and disabled citizen tax freeze. All other exemptions for
disabled persons and veterans are as stipulated by State law.
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