The property values released by the Henderson County Appraisal District leave the City of Athens in a good position as the 2020 budgeting process heads toward its final stages.
"The estimate the county provided was higher than the certified rolls came in, but we had only budgeted half of that increase," Finance Officer Mandie Quigg said.
HCAD Chief Appraiser Bill Jackson's certified numbers place the total appraised value for Athens at $764,609,706. That's a gain of almost $52 million from last year when valuations added up to $712,801,685.
"Although it's less than they predicted in April, it's still positive for the city," Quigg said.
Quigg said she has been working on tax rate calculations this week as the city prepares to post notice of a tax rate hearing.
According to the city budget schedule, in August City Manager Elizabeth Borstad will present a recommended budget to the council. That will be followed by a public budget workshop. Adoption of the budget takes place in September, in time to go into effect in October.
When the date of the workshop is set, it will appear on the city website, Quigg said.
Quigg gave a report to the city council in July on the budget as it stood at that point.
The ad valorem revenue increase at that time was projected to be $67 million. The working budget contained General Fund revenues of $10,987,850. The projected year-end revenues for the current budget were $10,733,368.
Quigg said the revenues were expected to come 38% from sales tax, 38% ad valorem tax and the remaining 24 percent from other sources. Estimated General Fund expenditures totaled $11,142,815
The total General Fund budget for the current year is $10,651,547. The tax rate is .685221 per $100 valuation.