SAN MARCOS CITY COUNCIL
The San Marcos City Council voted six to one, with San Marcos City Council Member Shane Scott with the dissenting vote, to set the maximum proposed tax rate of 60.3 cents per $100 of taxable value leading into the Sept. 3 and Sept. 24 public hearings on the tax rate. Jon Locke, San Marcos Finance director, said Tuesday the council selected the maximum proposed tax rate, which establishes the ceiling for the Fiscal Year 2025 tax rate. City council will set the tax rate on Sept. 17, which can be the same or lower than 60.3 cents per $100 of taxable value.
Locke said the no-new-revenue rate, or the rate that would produce the same amount of revenue as the previous fiscal year on properties taxed in both years, is 59.96 cents. The proposed rate is 60.3 cents, which is the same as the tax rate used for the current fiscal year. The voter- approval tax rate is 70.36 cents, which is the tax rate that increases the no-new-revenue rate by 3.5%, plus the debt rate, plus any unused increment from the prior three years. Locke said exceeding the voter-approval rate will require that it is placed on the ballot for voter approval.
