Page 130 - City of Watauga FY22 Adopted Budget

BUDGET-OVERVIEW

up from $936.39 last year. This represents a monthly cost of $84.08, or $6.64/day for the
City to provide services such as the day to day operations of the City including 24-hour
police, fire and EMS Service, public works, parks and recreation, library services, building
inspections, code compliance and other essential City services.

The City is landlocked and approximately 96% built out, however, in the City and
surrounding area, there has been substantial growth in residential and commercial
property valuations over the last several years. The Emerging Trends in Real Estate
for 2020 report from Price Waterhouse Coopers and the Urban Land Institute ranked
the Metroplex as the number four market for overall real estate prospects in 2020 out of
80 other cities.

The following graph demonstrates the historical collection cycle of the 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

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