General Budget & Tax Rate Information

The fiscal year 2024 budget and tax rate were adopted by City Council on August 17, 2023.  For questions related to the annual budget and tax rate, the Finance office can be reached at
     City of Temple
     2 North Main Street, Suite 302
     Temple, TX  76502
     254-298-5631
     financeweb@templetx.gov

Or contact your City Council representative.

The City of Temple resides in Bell County.  Bell County must maintain a database of property tax-related information.  Contact Bell County Appraisal District.

Fiscal Year 2024 Budget Data Compared to Fiscal Year 2023 Budget Data
The table below summarizes the City’s adopted budget by fund for the preceding two years (FY 2022 and FY 2023), the current fiscal year (FY 2024), as well as showing the calculated change in the City’s current budget (FY 2024) compared to previous fiscal year (FY 2023).

Fund Type	Adopted Budget FY 2022	Adopted Budget FY 2023	Adopted Budget FY 2024	$ Change FY 24 vs FY 23	% Change FY 24 vs FY 23
General Fund	$    93,108,445	$    107,621,647	$    122,755,878	$     15,134,231	14.06%
Water & Wastewater Fund	46,667,145	54,205,238	58,785,144	4,579,906	8.45%
Reinvestment Zone No. 1 Fund	48,222,109	61,733,490	42,009,939	(19,723,551)	-31.95%
Debt Service Fund	21,972,789	25,228,239	30,570,880	5,342,641	21.18%
Hotel/Motel Tax Fund	2,182,460	2,978,155	3,407,090	428,935	14.40%
Drainage Fund	2,974,750	3,137,433	3,186,945	49,512	1.58%
Federal/State Grant Fund	659,412	682,794	778,505	95,711	14.02%
Temple Revitalization Corporation	-	35,000	343,800	308,800	882.29%
Total Budget	$    215,787,110	$  255,621,996	$   261,838,181	$   6,216,185	2.43%

The City's most recent annual Budget (PDF) and the City's most recent Annual Comprehensive Financial Report (PDF).

Fiscal Year 2024 Tax Rate Compared to Fiscal Year 2023 Tax Rate
Fiscal year 2024 Budget is based on tax year 2023 expected revenue.  For fiscal year 2024, the following rates were calculated and used by the City of Temple to produce it’s adopted budget:

	Adopted Budget FY 2022	Adopted Budget FY 2023	Adopted Budget FY 2024	$ Change FY 24 vs FY 23	% Change FY 24 vs FY 23
Adopted Operating Rate (M&O)	$      0.303000	$     0.286300	$     0.267000	$     (0.019300)	-6.74%
Adopted Debt Rate (I&S)	0.337000	0.326700	0.346000	0.019300	5.91%
Total Adopted Rate	0.640000	0.613000	0.613000	-	0.00%
No-New Revenue Tax Rate	0.609000	0.522700	0.545600	0.022900	4.38%
No-New Revenue Operating Rate (M&O)	0.283800	0.259700	0.258200	(0.001500)	-0.58%
Voter-Approval Operating Rate (M&O)	0.474800	0.442200	0.438100	(0.004100)	-0.93%
Voter-Approval Tax Rate	0.660600	0.628700	0.627200	(0.001500)	-0.24%

For a complete explanation of how the FY 2024 tax rates were calculated, please click here.

The table below summarizes the City’s budget property tax revenue for maintenance and operations (M&O) and debt service (I&S) for the preceding two years (FY 2022 and FY 2023), current fiscal year (FY 2024), as well as showing the calculated change in the City’s current fiscal year (FY 2024) compared to previous fiscal year (FY 2023).

Property Tax Revenue Budget:	Adopted Budget FY 2022	Adopted Budget FY 2023	Adopted Budget FY 2024	$ Change FY 24 vs FY 23	% Change FY 24 vs FY 23
for Maintenance & Operations	$     19,621,292	$     22,433,136	$     24,744,902	$       2,311,766	10.31%
for Debt Service	18,134,309	21,499,959	26,193,616	4,693,657	21.83%
Total Budget	$     37,755,601	$     43,933,095	$     50,938,518	$       7,005,423	15.95%

 

The budgeted collection rate for property taxes in fiscal year 2024 is as following:

• Maintenance & Operations – 98.00% current and 1.00% delinquent
• Debt Service – 99.00% current and 1.00% delinquent