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Home My WebLink About034007 ORD - 09/08/2026Ordinance setting a property tax rate of $0.599774 per $100 valuation which is effectively a 0.50% increase over the no -new -revenue tax rate and approving the tax roll as calculated. (60 percent favorable vote required) (City Council Motion: "I move that the property tax rate be increased by the adoption of a tax rate of $0.599774, which is effectively a 0.50% percent increase in the tax rate.") WHEREAS, this tax levy is in accordance with the City's fiscal year 2026-2027 operating budget adopted on September 8, 2026; BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Council of the City of Corpus Christi does hereby levy and adopt the ad valorem tax rate on $100 valuation for this city for tax year 2026 as follows: $0.378825 for the purpose of maintenance and operation 0.220949 for payment of principal and interest on debt $0.599774 Total Tax Rate SECTION 2. There is hereby levied, to be assessed and collected in current money of the United States of America, for the use of the City of Corpus Christi, Texas, for the tax year 2026 and for each succeeding tax year thereafter, until otherwise provided and ordained, an annual ad valorem tax of $0.378825 on each one hundred dollar value on all property, real, personal, and mixed, located within the City of Corpus Christi upon which a tax is authorized to be levied by law and upon all franchises of all individuals, partners, and corporations holding franchises in the City for defrayment of current expenses of the government of the City of Corpus Christi. Said tax shall be assessed upon 100 percent of the market value of property subject thereto. Four cents shall be dedicated for residential street reconstruction in accordance with Article VIII, Section 1(c) of the City Charter and shall be transferred from the General Fund to a dedicated fund on a monthly basis. If the tax rate is reduced by the results of an election to repeal the tax increase to the voter -approval rate, then the reduction shall first reduce the aforementioned residential street reconstruction portion of the tax rate and dedicated fund. SECTION 3. There is hereby levied, to be assessed and collected in current money of the United States of America, for the use of the City of Corpus Christi, Texas, for the tax year 2026 and for each succeeding tax year thereafter, until otherwise provided and ordained, an annual ad valorem tax of $0.220949 on each one hundred dollar value on all property, real, personal, and mixed, and franchises described in Section 2 of this ordinance and assessed upon 100 percent of the market value of property subject thereto, said taxes to be appropriated for the purpose of creating a sinking fund to pay the interest and principal maturities on all outstanding City of Corpus Christi bonds not otherwise provided for and including the interest, agent fees, and maturities of the following City of Corpus Christi bonds: 34 007 41 ANNUAL DEBT SERVICE DUE FY 2026-2027 Annual Debt Service 2026-2027 Principal Interest & Fees Total 2015 Taxable CO's - Landfill 500,000 213,108 713,108 2016 CO's (Facilities} 100,000 9,150 109,150 2017 Comb Tax & Ltd Pldg Rev CO, Txbl - Landfill 285,000 4,325 289,325 2018B Comb Tax & Limited Pldg Revenue CO, Txbt 340,000 227,497 567,497 2021A Comb Tax & Ltd Pldg Rev CO 340,000 248,150 588,150 2021B Comb Tax & Ltd Pldg Rev CO - Landfill 400,000 153,377 553,377 2022A Comb Tax & Ltd Pldg Rev CO 375,000 425,875 800,875 2022E Tax Lt Rev CO Taxa bl Ldf 345,000 378,383 723,383 2023A Comb Tax & Ltd Pldg Rev CO 205,000 246,125 451,125 2023B Comb Tax & Ltd Pldg Rev CO - Gotf/Landfill 280,000 421,423 701,423 2024A Comb Tax & Ltd Pldg Rev CO - mix 1,075,000 1,505,875 2,580,875 2024E Comb Tax & Ltd Pldg Rev CO, Txbl - Landfill 330,000 550,738 880,738 2025A Comb Tax & Ltd Pldg Rev CO, Txbl - Street 460,525 1,439,563 1,900,088 2025B Comb Tax & Ltd Pldg Rev CO, Tbl - Landfill 125,000 237,213 362,213 2019A Gen Imp Rfdg - Parks 900,000 65,073 965,073 2019E Gen Imp Rfdg Tax Airport 430,000 40,064 470,064 2020A Gen Imp 3,330,000 2,704,500 6,034,500 2020B GO Rfdg - Streets 2,785,000 881,375 3,666,375 2020C.1 Gl Rfdg Taxable Airport 176,491 46,800 223,291 2020C.2 Gl Rfdg Taxable Landfil 226,246 113,309 339,555 2020C.3 GI Rfdg Taxable Landfil 333,120 165,290 498,410 2020C.4 GI. Rfdg Taxable Landfil 285,675 143,655 429,330 2020C.5 GI Rfdg Taxable 3,608,468 772,244 4,380,712 2021C.1 Gen Imp Rfdg, Taxable 1,580,000 33,996 1,613,996 2021D.1 Gen Imp Rfdg - Airport 1,080,000 205,250 1,285,250 2021E Gen Imp Rfdg AirportAMT 245,000 27,225 272,225 2022C Gen Imp 1,140,000 1,323,700 2,463,700 2023 Gen Imp 1,155,000 1,404,225 2,559,225 2024 Gen Imp 1,365,000 1,910,125 3,275,125 2024C Gen Imp Rfdg 12,375,000 3,223,125 15,598,125 2025 Gen Imp Rfdg 385,000 1,321,873 1,706,873 2025C Gen Imp 2,030,000 1,559,000 3,589,000 2023 Ltd Tax Notes 475,000 90,625 565,625 2025 Ltd Tax Notes 1,345,000 425,625 1,770,625 2026 Series Gen Imp Bonds - 6,001,045 6,001,045 Totat required for 2026 debt service 40,410,525 28,518,926 68,929,451 - Amount (if any) paid from funds listed in unencumbered funds 2,972,550 - Amount (if any paid from other resources 4,252,430 - Excess collections last year 6,223,286 = Total to be paid from taxes in 2026 55,481,185 + Amount added in anticipation that the unit will collect only96.21% of its taxes in 2026 2,185,570 = Total debt levy 57,666,755 In addition to the ad valorem tax levy for debt service totaling $57,666,755 the balance of Page 2 of 4 this debt, if any, incurred by the City of Corpus Christi shall be funded from sources other than ad valorem taxes. SECTION 4. All taxes for the tax year 2026 hereby levied shall be due on receipt of the tax bill and shall be delinquent if not paid before February 1, 2027, except as otherwise provided in the Texas Property Tax Code; and penalty and interest shall be due on any delinquent taxes as provided by Chapter 33 of the Property Tax Code. No discount shall be allowed for early payment of taxes. The Texas Constitution, Property Tax Code, and other applicable laws shall govern all matters related to the taxes levied herein, and the City shall have all authority thereunder. SECTION 5. City staff, acting through the City Manager, are directed to notify the tax assessor ("Assessor") of the tax rate for the tax year 2026 adopted pursuant to this ordinance, which rate the Assessor shall use in calculating the tax imposed on each parcel of property included on the City's appraisal roll, which tax amounts the Assessor shall enter in the appraisal roll and submit to the City for approval, all in accordance with Section 26.09 of the Texas Property Tax Code. Pursuant to this clause, the appraisal roll with amounts so calculated, entered, and submitted to the City is hereby approved and constitutes the City's tax roll. SECTION 6. If, for any reason, any section, paragraph, subdivision, clause, phrase, word or provision of this ordinance shall be held invalid or unconstitutional by final judgment of a court of competent jurisdiction, it shall not affect any other section, paragraph, subdivision, clause, phrase, word or provision of this ordinance, for it is the definite intent of this City Council that every section, paragraph, subdivision, clause, phrase, word or provision of this ordinance be given full force and effect for its purpose. The foregoing ordinance was read for the first time and passed to its second reading on this the 1/Yr day of /'+`, , 2026, by the following vote: Paulette Guajardo Roland Barrera Sylvia Campos Eric Cantu Gil Hernandez Kaylynn Paxson Everett Roy Mark Scott Carolyn Vaughn Thforegoing ordinance was read for the second time and passed finally on this the 'O'\ day of "(Q (r\r-r , 2026, by the following vote: Paulette Guajardo Roland Barrera Sylvia Campos Kaylynn Paxson Everett Roy Mark Scott Alb Page 3 of 4 Eric Cantu N() Gil Hernandez PASSED AND APPROVED on this the Paulette Guajardo, M Carolyn Vaughn day of ATT T: ca Huerta, City Secretary , 2026. 0e 4 00 � tr Page 4 of 4