Page 92 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 2 Financial Analysis
Property Tax Overview

42750 0.37512 0.0.28927 0.15600 Southlake Trophy Club Keller Roanoke Haslet Grapevine Westlake This
33304
Town has assessed a property tax since FY2011- 12. The ad valorem tax rate per $100 of assessed
valuation will increase by $0.01985 for FY

2018- 19 to the adopted tax rate of $.15600 just under the calculated rollback rate of $.15618). As
a reminder, the effective tax rate is the total tax rate

calculated to raise of property tax
the same amount revenue for the Town from
the same properties. FY 17/18 Adopted Tax
Rate FY 18/19 Proposed Tax Rate Change
Amount M& O $ 0. 11133 $ 0.

actual 2017 actual 2018
actual 2019 18. This is attributable to
11% in
increase
proposed Property
shown
in
increase
Tax Rate residential 1% commercial
in millions)
increase
in
per $100 3%
0. personal This budget
will raise more revenue from
46200
Assessed Valuation property taxes than last year’
0.
s adopted budget by
45144
approximately $272, 358 which is
0. a 17.10% increase from
last year' s budget.
13201 $ 0.02068 I&02482 $ 0.02399 $(0.00083) 0.13615 $ 0.
0.
S $
15600 $0.01985 The total debt obligation secured by
property taxes for various projects totals $287,699. 2011 CO payment for street projects
796
of $2013 GO Refunding payment of $169,903 for Arts &
Science
117,
actual 2012 actual 2013 actual 2014 actual
Center construction. The debt payment
2015 actual 2016
for the Science Center was originally
paid from the Visitors Association Fund.
Based on July 2018 certified
values, the Town’ s “net

taxable value” increased by $
68, 089,024 over
the prior year adjusted
information for FY 17-
0. 0. 0. 0. 0. 0. 0. 0. 0.
16010$ 15684$ 15684$ 15634$ 15634$ 15634$ 13695$ 13615$ 156002011

The