Page 115 - Hurst FY20 Approved Budget

The information included to the right shows the net
growth of revenues generated from property taxes Millions of AD VALOREM TAX REVENUE
Dollars
from fiscal year 2010 through 2020 for both the 22.00 AD VALOREM TAX REVENUE
General Fund and Debt Service Fund. During this Millions of Dollars 19.13
19.28
time, tax revenue increased due mainly to the growth
of the City’s commercial properties. In fiscal year 16.23 16.23 17.03 18M
17.03
2010, the levy was about $12.32 million including 17.00 15.00
15.0
exemptions granted by the City Council. The City 13.25 13.46 13.83 14.00
14.0
13.25
offers a 20% homestead exemption and a senior 12.32 12.32 12.52 12.43 13.46 13.83 14M
12.52
12.43
citizen and disabled citizen exemption equal to 12.00
$35,000 per eligible household. Council also
approved a senior and disabled person tax freeze in 10M
fiscal year 2003-2004. In Fiscal Year 2017-2018, 7.00
the adopted rate was $0.58094 which is .07 cents
lower than the previous year’s rate. For Fiscal Year 6M
2018-2019, the adopted rate is slightly lower at .58
and is below the rollback rate. For Fiscal Year 2019- 2.00
2020, the adopted tax rate is $0.597299 which is 2M
slightly higher than the previous year rate. All tax 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
2010
rate adjustments must be considered and approved -3.00 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
by City Council. YEARS Actual Proj. Budget
Actual Proj. Budget
Tax Revenue

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Source of Ad Valorem Taxes Residential properties provide the majority of tax
revenue for the City. Personal, mineral, and real
SOURCE OF AD VALOREM TAXES properties associated with commercial, industrial, and
agricultural entities provide the remainder of the ad
valorem tax revenue. The appraised values for each
category are listed as follows:
Business Residental
Personal 54%
Property
8% 2019 Property Category Appraised Value
Residential $2,349,429,042
Commercial 1,575,149,442
Residential
Commercial 54%
37% Industrial,

Agricultural & Mineral Lease 20,656,335
Commercial
37% Industrial/Agriculture Business Personal
1% Property Business 352,188,818
8% Personal Property

Total Property Value $4,297,423,637
Industrial /
Agriculture (Before protests and exemptions)
SOURCE: TAD JULY 2019 CERTIFIED TAX ROLL
1%
Source: TAD July 2019 Certi ed Tax Roll

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