Vision SMTX Appendix Adopted 2024

Economic & Planning Systems, Inc.

APPENDIX C: KEY FINDINGS FROM FISCAL IMPACT ANALYSIS

Figure 2. City of San Marcos General Fund Revenues, FY 2023 Budget

Cultural and Recreation $743,700 1%

Interest Income $190,000 0%

Licenses & Permits $5,182,500 6% Fines and Penalties $943,175 1%

Charges for Services $171,000 0%

Franchise Fees/Other $11,179,270

Property Tax $29,296,727 34%

Sales Tax $39,406,195 45%

Property Tax The per-unit property tax revenues generated are summarized in Table 1 . As shown, single family detached residential uses generate the highest per-unit annual revenue ($1,678). Commercial development uses generate the greatest amount of property tax on a square footage basis, at $0.87 per square foot, while industrial uses generate only $0.39. However, industrial uses tend to be larger, and thus may generate a similar amount of tax revenue on a per-property basis. Based on these tax generation factors, a growth scenario with more single family detached housing will generate more property tax revenue, as this housing type has the highest property value and thus generates the highest level of property taxes. However, as the rest of the model will show, it is important to consider the costs to serve various types of growth as well to get a comprehensive picture of the net fiscal impact on the City of new development.

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SAN MARCOS COMPREHENSIVE PLAN 2024

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