Page 61 - City of Westlake FY20 Budget

Section 1 Executive
Community Profile

PROPERTY TAX

The Town of Westlake instituted a property tax in 2010. Top Ten Principal Total
Property Tax Payers Taxable
 Effective Tax Rate is the total tax rate calculated SOL Westlake LP $ 108,461,277
to raise the same amount of property tax revenue
from the same properties. FMR Texas, LLC 78,687,737
Dallas MTA LP 69,507,181
The tax rate for FY2019/2020
will increase .0041 DCLI LLC 50,970,395
for a tax rate of $.16018 BRE Solana LLC 48,965,793

Currently $.15600 HMC Solana LLC 36,573,910
Maguire Partners Solana 31,142,724

Homestead Exemptions Lexington TNI Westlake LP 17,700,814
The Westlake Town Council approved a homestead Quail Hollow Development 9,838,111
exemption of 20%, which is the maximum amount LLC
allowed by the State of Texas. Marsh USA Inc 9,500,963

Tax Freeze TOTAL $461,348,905
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 visit the following websites: Denton Central
Appraisal District or Tarrant Appraisal District.

Jurisdictions - The Town of Westlake contracts with the Tarrant County Tax Assessor Collector’s
Office to collect the Town’s portion of local property tax.

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 a property
search on the appropriate appraisal
district website: Denton Central Appraisal
District or Tarrant Appraisal District.

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