Finance

The Finance Department plans and directs the City’s financial activities, including accounting, budgeting, internal and external financial reporting, as well as debt and investment management. The department directs the citywide budgeting process, as well as the preparation of the Comprehensive Annual Financial Report.


Property Tax Rate

During the past five years, the property tax rate of the City of South Padre Island experienced slight increases associated with the financing of infrastructure developments (street improvements) and preventive maintenance expenditures for City's buildings

Tax Rate Comparison

The City of South Padre Island has the second lowest property tax rate in the Cameron County and one the lowest rates of the State of Texas. The current tax rate is $.315640 per $100 assessed valuation.

Bond Rating

Bond ratings are a measure of the creditworthiness of both debt securities and their issuers. The City has a strong financial position with an AA+ general obligation bond rating through Standard & Poor’s, which is a reflection of strong financial practices. The excellent bond rating allows the City to issue bonds for major projects at an advantageous interest rate.