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
  • Utilities Billing and Cash Collections
Awards
For the last 10 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 each fiscal year since 2007.
Budget - FY 2015/2016
Name of Fund
Amount
General Fund
$8,960,204
Water / Wastewater Fund
$4,518,407
Other $12,432,306
Total $25,910,917

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.
2015 Property Tax Rates (per $100 assessed value)
City of Marble Falls*
$.6483*
*Interest and Sinking Fund
$.4383
*Maintenance and Operations
$.2100
Burnet County
$.3601
Burnet County Special
$.0424
Central Texas Groundwater
$.0091
Marble Falls ISD
$1.28
Total Rate
$2.3399

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, 2015)
Taxpayer
 Type of Business  2014 Assessed Valuation
Percentage of Assessed Value
Duke Realty Marble Falls Development LLC
Healthcare $14,878,248 2.246%
Huber JM Corp
Stone Quarry $10,526,719 1.589%
Wal-Mart Stores, Inc.
01-0781
Discount Retailer $9,902,205 1.495%
Wal-Mart Stores East LP
Discount Retailer $8,300,813 1.253%
Johnson -Sewell Family Partnership
Auto Dealership $6,060,392 0.915%
Lowe's Home Centers, Inc.
Home Improvement $6,000,000 0.906%
HD Development Properties LP
Home Improvement $5,369,232 0.810%
Johnson, Ross H. Auto Dealership $5,020,707 0.758%
SL Marble Falls LO Retail/Shopping Center $4,935,431 0.745%
SNH SE Properties Trust
Assisted Living Facility $4,894,483 0.739%