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 2018/2019

Name of Fund
Amount
General Fund
$11,345,320
Water / Wastewater Fund
$5,663,396
Economic Development Fund$2,975,785
Debt Service Fund$3,678,060
Special Revenue Funds$8,171,211
Capital Projects Fund$10,255,460
Total$42,089,232

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.

2018 Property Tax Rates (per $100 assessed value)

Taxing EntityRate
City of Marble Falls*$.6150*
*Interest and Sinking Fund$.3671
*Maintenance and Operations$.2479
Burnet County$.3483
Burnet County Special$.0417
Central Texas Groundwater$.0080
Marble Falls ISD$1.2686
Total Rate$2.2816

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, 2018)

Taxpayer
Type of Business
2017
Assessed Valuation (1)
Percentage of Assessed Value
Worldmark the ClubHospitality$16,030,9441.913%
HTA- Marble Falls MOB LLCHospital$14,321,8401.709%
Bray Spaar PartnershipRetail$14,000,0001.671%
Huber Carbonates LLCStone Quarry$12,109,4091.445%
Walmart Stores IncDiscount Retailer$9,662,1471.153%
Pedernales Electric Co-OpElectric Company$9,640,3721.150%
L Dor V Dor LLCRetail$7,300,0210.871%
Marble Falls Tx Arbor House LpAssisted LIving$6,603,2050.788%
Heritage Hotels Marble Falls LtdHospitality$6,598,8160.787%
Lowe's Home Centers IncHome Improvement$6,305,0000.752%

(1) Source: Burnet County Appraisal District