Monday, October 9, 2017

Von Ormy passes 2018 budget, keeps zero property tax rate; is debt free

VON ORMY - Residents of Von Ormy will continue to be the only city in Bexar County to enjoy no municipal property taxes. The Von Ormy City Commission unanimously adopted its fiscal year 2018 budget on September 29 and maintained the city's property tax rate at zero percent.  The budget prioritizes the reestablishment of the Von Ormy Police Department and animal control services and provides funding for long term park improvements.  The budget assumes a 5% growth in sales taxes, a conservative estimate following two years of rising sales taxes. Von Ormy is on pace to have its highest sales tax collection in its history in 2017.  The 2018 budget also completes payment on the city's sole outstanding tax note, Series 2011, which was issued to purchase land for the municipal park and city office complex.  The final payment on this note leaves the City debt free. 
     Von Ormy's 2018 budget is $581,248.00.  Additionally, the city maintains reserves of over one year's operating budget.  This allows the city to operate without property taxes and withstand the variability of sales tax revenue. 2014 saw the sharpest decline in sales tax collections  at 10% less than the prior year.  However, during its 10 years of existence, Von Ormy has run a budget surplus each year and has never had to dip into reserves for city operations.  In addition to providing a safety net against declining revenue, these surpluses allow the city to avoid long-term debt.  In 2017, the City purchased a city hall, a police station and three new police vehicles and paid cash for each.     




14 comments:

  1. That's great news! Can I make a suggestion pertaining the park? The running track, can it be extended to a mile and/or more for the runner here in Von Ormy? And maybe some street lights for safety?

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