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.

The City of South Padre Island has the second lowest city property tax rate in Cameron County and one the lowest rates of the State of Texas. The current tax rate is $0.313740 per $100 assessed valuation.

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.

Beverage Tax

Property Tax Revenue

Bond Ratings

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.

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