Page 20 - Grapevine Budget FY21

SUMMARY:

I am confident that this budget
continues to lay a firm foundation
for a sound financial future. In the
last ten years, the city’s tax base
(net taxable value) has increased by
$3.45 billion, an average annual
growth rate of 5.9%. With the new
development projects that are
underway, we expect the City’s
NTV to continue to grow in the
near future. Grapevine has worked
hard over the last 20 years to truly
become a “destination” city.

The City of Grapevine has not had a
property tax rate increase since
1971. Since 1988, the property tax
rate from .440000 cents to .282601
cents while maintaining and
expanding existing services, and
adding new and enhanced services,
while maintaining a strong fund
balance.

Throughout the upcoming year, we will continue to monitor and evaluate the City’s priorities and
allocate resources appropriately so that we continue to deliver a positive program of operations for
the City. Our Budget and Finance staff will continue to analyze and evaluate financial data and
submit quarterly financial reports to Council. If there are significant changes in the City’s financial
condition, we will prepare and submit a mid-year budget report with proposed alternative
strategies.

Sincerely,

Greg Jordan Bruno Rumbelow
Chief Financial Officer City Manager

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