Finance

Responsibilities

In accordance with accounting and fiscal policies, the primary responsibilities of the Finance Department include:

  • Accounts Payable
  • Annual Budget
  • Annual Financial Audit Preparation
  • Cash and Investments Management
  • Collection of Hotel / Motel Occupancy Tax
  • Financial Reporting
  • Payroll
  • Utility Billing and Cash Collections

Awards

For the last 13 consecutive fiscal years, the Finance Department has earned the "Certificate of Achievement for Excellence in Financial Reporting," representing the highest standards in government accounting and financial reporting. The Finance Department has also earned the Distinguished Budget Presentation Award for the last 11 consecutive fiscal years.

Budget - FY 2019/2020

Name of FundAmount
General Fund
$12,081,807
Water / Wastewater Fund$  5,895,887
Economic Development Fund$  2,453,586
Debt Service Fund$  3,681,642
Special Revenue Funds$  8,163,077
Capital Projects Fund$  7,889,500
Total$40,165,499

Taxation

Property in Burnet County is appraised at market value by the Burnet Central Appraisal District. The City of Marble Falls, Burnet County and the Marble Falls Independent School District exempt inventories held for under 175 days and exported from the State of Texas. This "Triple Freeport" exemption applies to all locations and industrial parks in the City of Marble Falls.

2019 Property Tax Rates (per $100 assessed value)

Taxing Entity      Rate
City of Marble Falls*$.6100*
*Interest and Sinking Fund$.3531
*Maintenance and Operations$.2569
Burnet County$.3582
Burnet County Special$.0417
Central Texas Groundwater$.0074
Marble Falls ISD$1.1986
Total Rate$2.8259

Sales Tax Exemptions

  • Groceries
  • Prescriptions

Corporate of Personal Income Tax

None in Texas

State Franchise Tax

  • 4.5% / 2.5% per $1000 net taxable income / taxable capital
  • Texas has no corporate or personal income tax.

Sales Tax

Tax
Rate
City Sales Tax
2.00%
State Sales Tax
6.25%
Total Rate
8.25%

Principal Taxpayers (Fiscal Year Ending September 30, 2019)

Taxpayer
Type of Business
2018
Assessed Valuation (1)		Percentage of Assessed Value
Worldmark the ClubHospitality$16,030,9441.797%
NE Marble Falls LPConstruction$15,963,0031.789%
HTA-Marble Falls MOB LLCHospital$14,321,8401.605%
Bray Spaar PartnershipRetail$13,382,1461.500%
Huber Carbonates LLCStone Quarry$11,283,7341.264%
Pedernales Electric Co-opElectric Company$10,472,7291.173%
Wal Mart Stores Discount Retailer$9,562,7211.071%
Homestead Mormon Mill LPApartments$8,221,0870.921%
L Dor V Dor LLCRetail$8,003,2120.897%
Heritage Hotels Marble Falls LTDHospitality$6,712,4610.752%

(1) Source: Burnet County Appraisal District