Page 34 - CITY OF WATAUGA, TEXAS ANNUAL BUDGET PORTRAIT

 Based on certified values from TAD ($2,314,719,086), property valuations increased
2% over the prior year. Estimated Net Taxable Values are $2,332.833,827, a 1.3%
increase over the prior year. In FY2024-2025, valuations increased by 7.3%,
compared to an increase of 11% in FY2023-2024.

 The tax rate for FY2025-2026 is $0.5702/$100 of valuation and maintains the current
tax rate and brings in additional revenue to cover cost increases. The tax rate is based
on higher valuations and funds quality service levels and programs and ensures new
debt service requirements are met for capital projects in the City. The tax distribution
rate for FY2025-2026 compared to FY2024-2024 is as follows:

FY2024-2025 FY2025-2026
Maintenance and Operations: $0.359710/$100 $0.391659/$100

Interest & Sinking $0.210490/$100 $0.178541/$100

TOTAL TAX RATE: $0.570200/$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:

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