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 12 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 eight consecutive fiscal years.

Budget - FY 2016/2017


Name of Fund
Amount
General Fund
$9,599,283
Water / Wastewater Fund
$4,969,451
 Debt Service Fund $3,253,336
Other $19,692,303
Total $37,513,373

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.

2016 Property Tax Rates (per $100 assessed value)


City of Marble Falls*
$.6483*
*Interest and Sinking Fund
$.4157
*Maintenance and Operations
$.2326
Burnet County
$.3551
Burnet County Special
$.0418
Central Texas Groundwater
$.0091
Marble Falls ISD
$1.28
Total Rate
$2.3343

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, 2016)


Taxpayer
 Type of Business  2016 Assessed Valuation
Percentage of Assessed Value
Duke Realty Marble Falls Development LLC
Healthcare $14,837,130 2.205%
Wal-Mart Stores, Inc.
01-0781
Discount Retailer $9,902,205 1.472%
Huber JM Corp. Stone Quarry $9,620,425 1.430%
Wal-Mart Stores East LP
Discount Retailer $6,100,723 0.907%
Lowe's Home Centers, Inc.
Home Improvement $6,000,000 0.892%
Johnson-Sewell Family Partnership Auto Dealership  $5,970,943 0.888%
Johnson, Ross H. Auto Dealership $5,380,317 0.800%
 L Dor V Dor LLC Retail $5,304,840 0.907%
SNH SE Properties Trust
Assisted Living Facility $4,894,483 0.728%
 Panhandle Hospitality LTD Hospitality $4,741,863 0.705%
(1)  Source:  Burnet County Appraisal District