Page 25 - Burleson FY22 City Budget

FISCAL YEAR 2021‐2022 BUDGET OVERVIEW

The Fiscal Year 2021‐2022 proposed operating budget for all funds totals $122.0 million for
revenues and $121.4 in operating expenditures. In addition to the operating budget, a 5 year
capital improvement plan in included in the proposed budget with $34.0 million budgeted for
capital projects in fiscal year 2021‐2022. The overall budget for all funds, including capital
projects is $155.4 million.

GENERAL FUND

Revenues

For fiscal year 2021‐22 proposed budget, total revenues are budgeted at $47,604,942, a 9.3%
increase over last year. The increase is primarily attributed to a 4.6% increase in property taxes
as well as a 20.5% increase in sales tax revenue. Property taxes and sales taxes make up 73.4%
of the general fund revenues.

Property Taxes

Tax Valuation
The City’s 2021 property value, as certified by the Johnson County Appraisal District and Tarrant
Appraisal District is $4,561,695,379, an increase of $362,753,389 or 8.6% over 2020’s
$4,198,941,990. This increase in value can be attributed primarily to rising valuations of existing
properties, with an additional $179,290,018 in new improvements added to the tax base. Total
taxable value increased $285,392,670 or 8.0% from last year’s $3,580,262,197 to $3,865,654,867.

Tax Rate

The property tax rate in the proposed budget is $0.6859, which is $.0252 less than the existing
rate of $0.7111. Proposed rate is the lowest since 2009.

With the implementation of Senate Bill 2 in fiscal year 2021, the no new revenue tax rate and the
no new revenue maintenance and operations (M&O) tax rate, were introduced.

The no‐new‐revenue rate for FY 2021‐22 is $0.6859, which the same as than the proposed tax
rate of $0.6859.

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