Page 18 - City of Arlington FY19 Adopted Operating Budget
P. 18

Budget In Brief





            PROPERTY TAXES $107.8 MILLION, 42.3% OF GENERAL FUND REVENUES
            The largest single revenue source for the General Fund is the Property Tax.  In FY 2019, this revenue represents 42.3% of
            General Fund revenues, up from 40.5% in FY 2018.  The total assessed value of taxable property in the City is $25.75 billion.

            Growth in assessed property values this year is sufficiently favorable to allow for an adopted FY 2019 tax rate of $0.6348 per
            $100 of assessed value, which is 0.50 cents lower than the FY 2018 rate.  The General Fund’s portion of the new property tax
            rate is 44.28 cents per $100 of assessed value, which represents 69.8% of the total tax rate.  As the chart below indicates, the
            allocation of the property tax rate between Debt Service and the General Fund shifts in FY 2019, with the General Fund’s portion
            increasing by 0.19 cents and the Debt Service portion decreasing by 0.69 cents.  Overall, the property tax base grew by 9.8%,
            the third consecutive year of growth over 9%.  This increase is largely due to another year of strong growth in the housing sector,
            with commercial and mineral properties relatively weaker.  General Fund property tax revenues from this growth are anticipated
            to increase in FY 2019 by approximately $9.3 million from the FY 2018 estimates.

                                                                                    Increase
                                                          FY 2018      FY 2019     (Decrease)
                                 General Fund Tax Rate       44.09        44.28                0.19

                                 Debt Service Tax Rate       19.89        19.20               (0.69)
                                 Total Property Tax Rate     63.98        63.48               (0.50)


                                            Assessed Value of Property Tax Base
                                             Percent Change, FY 2003 - FY 2019
                      13.0%
                      11.0%                                                                 10.0%  9.8%
                                                                                        9.1%
                       9.0%

                       7.0%
                             5.9%
                                 4.9%             5.0%                          4.5%
                       5.0%               4.1%         4.2%                          4.3%
                                     3.6%     3.3%
                       3.0%                                             2.4% 2.3%
                                                                    0.6%
                       1.0%

                       -1.0%                               -0.4%
                       -3.0%
                       -5.0%
                                                               -5.7%
                       -7.0%
                             2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



            The 9.8% growth in the property tax base results in a value increase of $2.31 billion from the certified roll received in July of last
            year, as reflected below

                                    Certified Roll, July 2017            $  23,446,157,392

                                    Increase in property values                2,307,115,996

                                    Certified Roll, July 2018            $  25,753,273,388





              2019 Adopted Budget and Business Plan                                        3                                                                  City of Arlington, Texas
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