Page 136 - CityofWataugaAdoptedBudgetFY25
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BUDGET SUMMARY
valuations maintains the current tax rate and brings in additional revenue to cover
cost increases. The tax rate is a result of the higher valuations and will ensure
that the quality service levels and programs are maintained, and new debt service
requirements are met for capital projects in the City.
➢ The tax rate for FY2024-2025 is $0.5702/$100 of valuation. The tax rate
distribution for FY2024-2025 compared to FY2023-2024 is as follows:
FY2023-2024 FY2024-2025
Maintenance and Operations: $0.359710/$100 $0.361051/$100
Interest & Sinking $0.210490/$100 $0.209149/$100
TOTAL TAX RATE: $0.57020/$100 $0.570200/$100
Estimated collections for the current year have been computed at approximately 100%
of net taxable value for the interest and sinking (I&S) portion of the tax rate. The City’s
historical tax rate and distribution is shown below:
PROPERTY TAX DISTRIBUTION HISTORY
Please see Budget Ordinances and Notices section for computation of tax rates
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