Page 53 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 1 Executive
Community Profile

PROPERTY TAX
Top Ten Principal Total
The Town of Westlake instituted a property tax in 2010. Property Tax Payers Taxable

BRE Solana LLC $ 124,718,219
Effective Tax Rate is the total tax rate calculated
FMR Texas, LLC/ LTD
to raise the same amount of property tax revenue 78,082,095
Partnership
from the same properties.
Dallas MTA LP 59,605,600

The tax rate for FY2018/2019 DCLI LLC 49,448,146
will increase by .01985 HMC Solana LLC 36,105,320
for a tax rate of $.15600
Lexington TNI Westlake LP 17,700,814
Currently $.13615
Maguire Partners Solana 17,551,836

Fidelity Investments Inc 10,763,028
Homestead Exemptions
Marsh USA Inc 9,500,963
The Westlake Town Council approved a homestead
exemption of 20%, which is the maximum amount Quail Hollow Development 8,242,111
allowed by the State of Texas.
TOTAL $ 411,718,132

Tax Freeze
The Town Council also approved a tax freeze for all residential accounts identified as over 65 by the
tax appraisal district. To learn more information about the tax freeze or find out if you qualify, please
http://www.dentoncad.org/
http://www.tad.org/
visit the following websites: Denton Central Appraisal District or Tarrant Appraisal District.
Ad Valorem Tax Comparison per $100
Jurisdictions - The Town of
Westlake contracts with the
Tarrant County Tax Assessor
0.46200 $ 0.45140 $ 0.42750 $
Collector’ s Office to collect 0.37510 $
0.29030 $ 0.28930
the Town’ s portion of local
property tax. 0.15600
Southlake Trophy Club Keller Roanoke Haslet Grapevine Westlake
There are multiple taxing jurisdictions within Westlake’ s boundaries; whether a business or residence is
required to pay tax to a particular jurisdiction is determined by where they are located within
Westlake and the boundaries of the respective taxing jurisdictions.

Currently, the following taxing jurisdictions collect property taxes in Westlake:
Independent School Districts; Carroll, Keller and Northwest
Tarrant County; College and Hospital
Denton County and Trophy Club MUD 1

Westlake residents can determine which taxing jurisdictions apply to their
property as well as obtain current property tax rate information by conducting
http://www.dentoncad.org/
a property search on the appropriate appraisal district website: Denton Central Appraisal District or
http://www.tad.org/
Tarrant Appraisal District.

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