Page 3 - Pantego FY23 Budget

TOWN OF PANTEGO, TEXAS

ADOPTED ANNUAL OPERATING BUDGET

AND PROGRAM OF SERVICES

FOR FISCAL YEAR 2022-2023

This budget as adopted will raise more revenue from property taxes

than last year’s budget by an amount of $ 407,506, which is a

27% tax revenue

to be raised from new property added to the tax roll this year is $4,769.

CITY COUNCIL RECORD VOTE

During a regular meeting held on September 12, 2022, the members of the
governing body voted on the adoption of the budget as follows:
PRESENT BUT NOT VOTING: Mayor Russell Brewster

FOR: Mayor Pro Tem Jeff Brown, Place 5; Tori Roemmich, Place 1;
Tyler Loe, Place 2; Mike Duncan, Place 3; and Gregg Kidd, Place 4
AGAINST: NONE | ABSTAINING: NONE | ABSENT: NONE

Property Tax Rate (per $100 of valuation) Comparison:
ADOPTED ADOPTED
FY 2021-22 FY 2022-23
Property Tax Rate $ 0.420000 $ 0.475931
No New Revenue Rate $ 0.431102 $ 0.386896
No New Revenue M&O Rate $ 0.381103 $ 0.343229
M&O Rate $ 0.371329 $ 0.431809
Voter Approval Rate $ 0.460767 $ 0.475931
De Minimis Rate $ 0.568477 $ 0.511713
Debt Rate $ 0.048671 $ 0.044122

The proposed Property Tax rate is made up of $ 0.431809 for Maintenance and Operations (M&O) and
the $ 0.044122 debt rate (or, Interest and Sinking (I&S)) 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 $ 2,465,000.

ADOPTED BUDGET FY2022-23 TOWNOFPANTEGO.COM/BUDGET PAGE 1