Finance Department

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)


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, 2017)

2017
Assessed Valuation (1)
Percentage of Assessed Value
HTA-Marble Falls MOB LLC
Hospital $14,616,860 2.012%
Huber JM Corp.
Stone Quarry $13,193,298 1.816%
Wal-Mart Stores, Inc. 01-0781 Discount Retailer $9,919,467 1.366%
Worldmark the Club
Hospitality $9,000,000 1.239%
L Dor V Dor LLC
Retail $6,864,973 0.733%
Lowe's Home Centers, Inc. Home Improvement $6,096,009 0.839%
Johnson-Sewell Family Partnership Auto Dealership $5,844,233 0.805%
Johnson, Ross H. Auto Dealership $5,391,529 0.742%
Wal-Mart Stores East LP
Discount Retailer $5,327,606 0.733%
 Panhandle Hospitality LTD Hospitality $4,974,145 0.685%
(1)  Source:  Burnet County Appraisal District