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.

American Rescue Plan Quarterly Updates


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 YearFiscal YearMaint & Ops (M&O) RateI&S (Debt) RateTotal Tax RateM&O Amt ChangeM&O %  Change

2010FY11$0.317442$0.247558$0.565000($0.016647)-4.98%
2011FY12$0.309993$0.255007$0.565000($0.007449)-2.35%
2012FY13$0.329495$0.240505$0.570000$0.0195026.29%
2013FY14$0.341521$0.228479$0.570000$0.0120263.65%
2014FY15$0.336270$0.213730$0.550000($0.005251)-1.54%
2015FY16$0.333221$0.196779$0.530000($0.003049)-0.91%
2016FY17$0.327749$0.182251$0.510000($0.005472)-1.64%
2017FY18$0.317750$0.182250$0.500000($0.009999)-3.05%
2018FY19$0.308383$0.181617$0.490000($0.009367)-2.95%
2019FY20$0.315104$0.179896$0.495000$0.0067212.18%
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