Cameron County CAD Budget Overview

The 2024-2025 CCAD budget focuses on economic growth, infrastructure, and public safety, with key investments in major projects like SpaceX and Rio Grande LNG. It includes tax relief, increased funding for roads and public safety, and enhanced employee benefits. The budget also reduces reliance on property taxes by utilizing toll bridge revenues.

Cameron County 2024-2025 Budget: Key Updates & Financial Trends.

The County’s projected total revenue for FY 2024-2025 is $225.4 million, marking a 7.8% increase from the previous fiscal year. Budgeted expenditures stand at $225.16 million, up 7.6%. This growth is driven by a 5.9% increase in property tax revenue, totaling $7.1 million, and $449 million in new taxable construction.
The property tax rate has slightly decreased to $0.426893 per $100 valuation, down from $0.436893 in previous years, providing tax relief for property owners.
The general fund has grown significantly, reaching $37.86 million, while $100 million is allocated to Law Enforcement and Public Safety. Infrastructure and road funding has increased by 15.5% to $24.56 million, addressing rising costs for materials, maintenance, and fuel.
Cameron County is committed to supporting its workforce with a 5% salary increase, a 250% employer retirement match, and a 3% cost-of-living adjustment (COLA) for retirees. Health insurance benefits have also been improved for employees.
Debt obligations for tax-supported projects, road and bridge improvements, and venue tax revenue commitments total $182.23 million. Major economic projects include a $3 billion investment from SpaceX, with a $6.5 billion economic impact, and an $18.4 billion investment in the Rio Grande LNG Project, which is expected to create 1,800 on-site jobs.

Cameron County’s fiscal strategy for the 2024-2025 period reflects a strong focus on economic growth, infrastructure, and public safety, alongside responsible budget management.

Cameron County CADProperty Values: Trends & Taxable Growth

Cameron County’s property values and taxable growth have shown a steady upward trend, fueled by economic investments, infrastructure projects, and increased commercial activity.

Certified net taxable values have grown significantly, reaching $29.09 billion in 2024, up from $25.42 billion in 2023 and $23.48 billion in 2022, reflecting rising property values.
Economic investments, including SpaceX, Rio Grande LNG, and the I-69 corridor, have driven demand for commercial and industrial properties, boosting overall taxable value.
Infrastructure projects and road developments have increased land values, supporting both residential and commercial real estate growth.
International bridge revenues grew by 18.76% in 2023, reaching $22.45 million, indicating strong cross-border trade that enhances regional economic expansion.
Parks and recreation revenue in 2023 totaled $12.56 million, with major contributions from park entrance fees and RV campsite rentals, further contributing to county-wide taxable growth.

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Cameron County CAD Budget Overview