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Staff lays out no-new-revenue, debt and voter-approval tax-rate calculations for Copperas Cove
Summary
Budget staff presented the calculations and benchmark rates required by Texas law, including a no-new-revenue rate of 67.8856¢ and a debt (I&S) rate of 25.6970¢ per $100 valuation; staff noted the debt portion cannot be changed and council will decide the M&O portion on Aug. 4.
At the July 30 special meeting, budget director Arianna Beckman walked council through how Texas 'truth-in-taxation' formulas determine the city's tax-rate benchmarks and how certified property values feed into those calculations. She explained the two components of the rate — the maintenance and operation (M&O) rate and the interest and sinking (I&S) or debt rate — and said the city must calculate two benchmarks: the no-new-revenue rate and the voter-approval rate.
Beckman reported the no-new-revenue tax rate is "67.8856¢ per $100 valuation" after required adjustments to last year's base. She said the net debt to include for FY27 is $5,700,000 and that "the resulting debt rate is 25.6970¢ for a $100 valuation," adding that the debt portion cannot be changed by the council when it later sets the rate. Staff presented a voter-approval M&O figure on the slide and the combined voter-approval rate for council's consideration.
Council was reminded that certified values from appraisal districts are the statutory basis for these calculations and that the city does not control the formulas. Staff said council will vote on the M&O portion on Aug. 4, with a public hearing and adoption scheduled for Aug. 18.
