Page 59 - Grapevine Budget FY21

Ad Valorem taxes for I&S are collected through the Debt Service fund. The City has adopted a tax
rate of $0.139125 for the Debt Service fund, meaning 49.2% of tax collections fund principle and
interest payments on outstanding debt. In comparison, last year’s I&S rate of $0.158657
represented 54.8% of tax collections.

The total tax levy for FY21 is budgeted at $26.15million. Ad Valorem taxes represent 33% of
General Government revenues.

.3660 .3635 .3625 .3625 .3625 .3500 .3500

Ad Valorem tax collections totaled $23.8 million in FY19, an increase of 5.3% from the previous
year. Actual collections in FY19 are estimated to fall short of budget by $262,000 (-0.1%).

AD VALOREM FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020
TAXES

Collections $20,399,415 $20,957,809 $20,428,353 $22,641,995 $24,037,642 $25,581,495
Gain / (Loss) $165,461 $558,394 ($529,456) $2,213,642 $1,395,647 $1,543,853
% Change 0.8% 2.7% -2.5% 10.8% 6.2% 6.4%

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