Page 68 - Grapevine FY22 Adopted Budget v2

Ad Valorem taxes for I&S are collected through the Debt Service fund. The City has adopted a tax
rate of $0.131376 for the Debt Service fund, meaning 48.3% of tax collections fund principle and
interest payments on outstanding debt. In comparison, last year’s I&S rate of $0.139125
represented 49.2% of tax collections.

The total tax levy for FY22 is budgeted at $27.56 million. Ad Valorem taxes represent 32% of
General Government revenues.

Ad Valorem tax collections totaled $25.6 million in FY20, an increase of 6.5% from the previous
year. Actual collections in FY21 are estimated to reach $26.7 million which is 4.3% higher than
the previous year.

AD VALOREM FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021
TAXES

M&O $9,793,333 $9,655,982 $11,332,790 $11,765,848 $12,740,172 $13,552,956
I&S $11,164,476 $10,772,371 $11,309,205 $12,271,794 $12,865,818 $13,152,069
Total Collections $20,957,809 $20,428,353 $22,641,995 $24,037,642 $25,605,990 $26,705,025
Gain / (Loss) $558,394 ($529,456) $2,213,642 $1,395,647 $1,568,348 $1,099,035
% Change 2.7% -2.5% 10.8% 6.2% 6.5% 4.3%

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