Page 28 - Burleson FY22 City Budget

Budget Overview

Proposed FY 2021‐2022 Budget

Taxable Value of Average Residential Property

The taxable value of an average residential property in Burleson grew from $206,720 in 2021 to
$232,000 in 2022, a 12% increase

The proposed rate, applied to the increased taxable value, will result in a decrease of $58.46 in
the tax bill for the average residential property.

Property Tax Revenue
Overall, General Fund revenue from ad valorem (property) taxes is up $1,466,906 (6.7%) from
the current year to $23,295,728. Tax levy on new value added since the last appraisal total
$1,229,850. The value of properties subject to a tax ceiling has increased to $699.1 million in
2021 from $636.7 million in 2020. Frozen properties now account for 18.1% of the tax base.

For FY 2021‐22, one cent on the ad valorem tax rate will generate $381,526 ‐ allowing for
protested and frozen values and assuming a 99% collection rate.

Sales Taxes

Sales tax (not including $157,500 in liquor tax) revenues are projected to increase $2,084,054 a
20.4% increase from current budget. Revenue from sales tax in FY 2021‐2022 is projected at
$12,257,000 which is 25.4% of total revenue.

Combined, property and sales taxes will fund approximately 73.3% of General Fund
maintenance and operations expenses for FY 2022. The graph below illustrates this
relationship.

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