Page 45 - Keller FY20 Approved Budget

Ad Valorem Taxes:

Ad valorem tax is the largest revenue source for the City of Keller and is split between the General Fund
(Operations and Maintenance tax rate) and Debt Service (Interest and Sinking tax rate). The adopted
FY 2019-20 rate is $0.399900 per $100 of taxable value (/100), which is a decrease of $0.01335/100
from the FY 2018-19 rate and is under both the rollback and effective tax rates. The total levy will increase
by $427,546 or 1.8%, and of the increased levy $527,286 (over 100%) is related to new growth. For the
average household, the taxable value has increased from $339,361 to $355,394 which reflects a
homestead exemption increase from 10% to 12%. With the lowered ad valorem rate and the increased
homestead exemption, the average home ad valorem levy increase is $18.81 or $1.57 per month.
Without the increased exemption and rate reduction, the average household levy would have increased
by $77.42 or $6.45 per month. The estimated property tax revenue for FY 2019-20 is $24,362,027 for all
funds.

25,000,000 0.450000
0.445000
20,000,000 0.440000
0.435000
15,000,000 0.430000
0.425000
10,000,000 0.420000
0.415000
5,000,000 0.410000
0.405000
‐ 0.400000
FY 2015‐16 Actual FY 2016‐17 Actual FY 2017‐18 Actual FY 2018‐19 FY 2019‐20
YE Proj. Adopted Budget
O&M I&S TIRZ Total Rate

The Operations and Maintenance (O&M) rate is $0.318276/$100, which is a decrease from the FY 2018-
19 rate of $0.332943/$100. O&M revenue is anticipated to be $19,875,273 or 82.2% of property tax
collected. The General Fund property tax growth will increase by $214,631 or 1.09%. The interest and
sinking rate (I&S) is $0.081624/$100 and is a slight increase from the FY 2018-19 rate of
$0.080307/$100. I&S revenue is anticipated to be $4,295,142, which is an increase of $212,915 or
5.22%.

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