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Open for Business
Waco's attractive qualities include its low cost of living and low cost of doing business.
| Zoning Maps |
Brazos River Corridor |
Tax Increment Finance Zone |
Public Improvement District |
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City of Ordinances
| COST OF LIVING |
| 89.3 |
4th Quarter 2007 |
| Comparison Cities: |
| El Paso |
93.2 |
| San Antonio |
94.4 |
| Dallas |
90.9 |
| Tyler |
94.4 |
| Purchasing Power |
| Housing |
79.7 |
| Groceries |
80.9 |
| Health Care |
95.4 |
| Misc. Goods/Svc |
98.8 |
| Transportation |
88.6 |
Source: American Chamber of Commerce
Researchers Association (ACCRA) |
TAXATION
Sales & Income Tax 2007 |
| Municipal Sales Tax |
1.5% |
| State Sales Tax |
6.25% |
| McLennan County Tax |
0.5% |
| State Income Tax |
0% |
Total |
8.25% |
| Real Property Tax (per $100) 2007 |
| City of Waco |
0.78623 |
| McLennan County Tax Rates 2006 |
0.4529 |
| McLennan Community College |
0.153002 |
| Waco ISD |
1.162050 |
Total |
2.566482 |
Real Property Taxable Value 2007
McLennan County |
| Assessed Value |
$12,339,712,965 |
| Taxable Value (after exemptions) |
$9,466,357,737 |
Franchise and Special Fees 2007
(net earned surplus) |
| Telephone |
| $1.04 / line (residential) |
| $2.78 / line (non-residential) |
| $2.78 / line (point-to-point) |
| Water, Wastewater & Solid Waste |
| 4% gross receipts |
| Cable Television |
| 5% gross receipts |
| Electricity |
| .002709 per KWH |
| Gas Energy |
| 4% gross receipts |
| Commercial Solid Waste Haulers |
| 4% gross receipts |
| Unemployment tax rate on taxable wages: |
| Texas Workforce Commission: |
Approx. 2.7% up to $9,000
per employee |
Major Housing Starts
by School District |
| District |
2003 |
2004 |
2005 |
2006 |
China Spring ISD |
199 |
229 |
162 |
187 |
Robinson ISD |
75 |
73 |
109 |
131 |
Midway ISD |
317 |
420 |
474 |
481 |
Waco ISD |
100 |
137 |
124 |
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Waco MSA
Retail Sales Information |
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TOTAL |
| 2006 |
$3,063,342,120 |
| 2005 |
$2,848,257,766 |
| 2004 |
$2,739,301,661 |
| 2003 |
$2,629,053,899 |
| 2002 |
$2,535,226,240 |
| Source: Texas Comptroller of Public Accounts |
| Available Tax Exemptions |
Property Tax Exemptions (Form 50-128)
Certain property types may be exempt from property tax. Tax abatement is also available for industrial development business investments that create new jobs and income. |
Sales Tax Exemption (Form 01-339)
Manufacturing Machine, Equipment, replacement parts, and accessories along with electricity and natural gas used in manufacturing, processing or fabricating may be eligible for tax exemption. |
Freeport Tax Exemptions (Form 50-113)
Certain goods (goods, wares, merchandise, ores, and certain aircraft and aircraft parts) detained in Texas for a period of 175 days or less for assembly, storage, manufacturing, processing or fabricating more be eligible for tax exemption. |
| Additional Information |
Assessment Rate of Property Value: 100% |
Personal Property Depreciation Schedule |
| City of Waco Building Permits |
| Type |
2007 |
Value |
2006 |
Value |
2005 |
Value |
2004 |
Value |
Single Family |
484 |
$75,555054 |
488 |
$80,328,135 |
498 |
$75,799,613 |
410 |
$60,928,126 |
2 Family/Multi Family (# permits:# dwelling units) |
15:34 |
$12,735,400 |
138:217 |
$15,912,194 |
25:287 |
$19,930,000 |
75: 566 |
$31,042,000 |
Commercial |
45 |
$62,747,086 |
39 |
$192,090,441 |
27 |
$17,726,197 |
43 |
$25,009,630 |
Renovation – Dwelling |
734 |
$4,348,624 |
1629 |
$11,589,907 |
979 |
$7,219,905 |
1072 |
$6,175,209 |
Renovation – Commercial |
305 |
$94,325,498 |
374 |
$66,737,445 |
265 |
$32,754,394 |
375 |
$42,878,406 |
Total |
2588 |
$273,469,785 |
2668 |
$366,658,122 |
1794 |
$153,430,109 |
1975 |
$166,033,371 |
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