Finance

Responsibilities & Services


The Finance Department is responsible for preparing financial reports, maintaining the general ledger, processing accounts payable and payroll, and cash and debt management. Our mission is to ensure fiscal responsibility to the citizens while providing competent, quality service and information to the external and internal customers of the Finance Department.

Budgeting


  

Financial Reporting

Financial Presentations


View recent and past presentations given by the Finance Department to city personnel and community members about Murphy's fiscal stability, investments, and general funds.

Property Taxes

The Collin Central Appraisal District (CCAD) appraises property annually and certifies the appraised values to each governmental entity. A person age 65 or older, or a disabled person in the City of Murphy, may apply for an exemption from city taxation of $50,000 of the appraised value of the resident’s homestead. This requires the resident to submit an affidavit claiming eligibility for the exemption to CCAD. Information is available on the CCAD website.

After the property values are certified to the governmental entities, the tax rates are then voted on by each government, in accordance with state law, and reported to the Collin County Tax Assessor and Collector. Information about the tax rates for other governments in Collin County may be found at their website.

The table below illustrates the City of Murphy’s tax rate for the last 10 years:

Tax Year Fiscal Year Maint & Ops (M&O) Rate I&S (Debt) Rate Total Tax Rate M&O Amt Change M&O %  Change
2010 FY11 $0.317442 $0.247558 $0.565000 ($0.016647) -4.98%
2011 FY12 $0.309993 $0.255007 $0.565000 ($0.007449) -2.35%
2012 FY13 $0.329495 $0.240505 $0.570000 $0.019502 6.29%
2013 FY14 $0.341521 $0.228479 $0.570000 $0.012026 3.65%
2014 FY15 $0.336270 $0.213730 $0.550000 ($0.005251) -1.54%
2015 FY16 $0.333221 $0.196779 $0.530000 ($0.003049) -0.91%
2016 FY17 $0.327749 $0.182251 $0.510000 ($0.005472) -1.64%
2017 FY18 $0.317750 $0.182250 $0.500000 ($0.009999) -3.05%
2018 FY19 $0.308383 $0.181617 $0.490000 ($0.009367) -2.95%
2019 FY20 $0.315104 $0.179896 $0.495000 $0.006721 2.18%
Contact Resources
  • For property tax information:
    • Collin County Tax Office
      920 E. Park
      Plano, TX 75074
      Ph: 972-881-3014
    • 2300 Bloomdale Rd., Ste 2324 McKinney, TX 75071
      Ph: 972-547-5020