Ad Valorem Taxes
The City's current ad valorem tax rate is $0.5000 per $100 of valuation of which $0.5000 is for Maintenance and Operations (M&O) of the General Fund. For fiscal year 2014 the city's total taxable assessed value was $78,118,560 with the average home taxable value of $46,800 in Brooks County and $40,867 to $51,933 in Falfurrias. The City grants a 20% homestead exemption and an additional $6,000 exemption for homeowners over 65.
The City's total tax rate collection is 8.25% in Brooks County. The State's share is 6.25%, Brooks County Health Services District .5%, and the City 1.5%. The City's 1.5% is credited to the General Fund and is not pledged to the payment of bonded debt. Collections and enforcements are effected through the offices of the Comptroller of Public Accounts, State of Texas, who remits the proceeds of the tax, after deducting a 2% service fee, to the City monthly.