Page 54 - Colleyville FY19 Budget

AD VALOREM TAXES
General Fund Property Tax
The 2018 certified value provided by Revenue
Tarrant Appraisal District is $16,000,000
$5,456,363,643 (a 7.7% increase over $14,000,000
2017 current valuation). $56,566,730 of $12,000,000
the increase is from new construction. The $10,000,000
total taxable value includes TIF zone $8,000,000
property, which has a combined taxable
value increment of $404,429,378. The $6,000,000
final TIF value is subject to change, as $4,000,000
valuation is still under appeal. The tax $2,000,000
rate of $0.320800 is allocated $0.303764 $0
to O&M (General Fund) and $0.017036 to FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19
debt (Debt Service Fund).

FRANCHISE FEES

The franchise fees were estimated based Franchise Fee Revenue
upon historical and industry trends. Due $2,400,000
to lack of growth in land phone lines, $2,300,000
there is a decrease projected for AT&T
phone franchise fees. Franchise fees for $2,200,000
gas and electricity are often correlated $2,100,000
with weather due to higher usage of
electricity during hot summers and gas $2,000,000
during cold winters. Franchise fees are $1,900,000
budgeted conservatively as influencing
factors like weather are unpredictable, $1,800,000
with very modest growth due to several FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19
new neighborhoods being built.

SALES TAX
Sales Tax Revenue
While sales tax growth was expected to $4,500,000
slow from that experienced in prior years, $4,000,000
FY 2018 sales tax revenue is anticipated $3,500,000
to finish at about 4% above the prior
year. Conservative growth of 2% is $3,000,000
anticipated for the next year due to the $2,500,000
reconstruction of SH26, the city’s primary $2,000,000
commercial corridor. The road project is $1,500,000
expected to conclude in mid/late 2019.
$1,000,000
$500,000
$0
FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19

52