The City of Greenville has released its property tax rates for the 2024 fiscal year. The no-new-revenue tax rate for this year is set at $0.558383 per $100 of property value. This rate would generate the same amount of tax revenue as last year if applied to properties taxed in both years. The voter-approval tax rate is $0.685672 per $100 of property value, which is the maximum rate the city can adopt without requiring a voter-approved election.
Unencumbered Fund Balance
As of the end of the fiscal year, the estimated unencumbered balance in the TAX FUND is $2,467,414. This balance is not committed to any debt obligations.
Current Year Debt Service
The city has the following long-term debts secured by property taxes:
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GO Debt:
- Principal Payment: $3,199,000
- Interest Payment: $5,904,788
- Total Payment: $9,103,788
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CO Debt:
- Principal Payment: $1,540,000
- Interest Payment: $597,792
- Total Payment: $2,137,792
The total required for 2024 debt service is $11,241,580. There are no amounts paid from unencumbered funds or other resources. The excess collections from the previous year amount to $2,075,689. The total amount to be paid from taxes in 2024 is $9,165,891, adjusted for anticipated collections of 101.00%, resulting in a total debt levy of $9,075,139.
This notice is a summary of the actual no-new-revenue and voter-approval calculations certified on August 1, 2024. For further details, visit Texas.gov/PropertyTaxes to access local property tax information and details about proposed tax rates and public hearings.
The 86th Texas Legislature has amended the method for calculating the voter-approval tax rate to manage the growth of property taxes across the state.
