Page 87 - Hurst Adopted FY22 Budget

APPROVED FISCAL YEAR 2022 BUDGET

The information included
to the right shows the net Tax Revenue by Fiscal Year
growth of revenues generat-
ed from property taxes from 22 20.70
Fiscal Year 2011 through 20.20
2022 for both the General 20 19.13
Fund and Debt Service Fund.
During this time, tax revenue 18 17.03
increased due mainly to the 16.23
growth of the City’s commer- 16
cial properties. In fiscal year 15.00
2011, the levy was about 14 13.25 13.46 13.83 14.00
$12.52 million including ex- 12.52 12.43
emptions granted by the City 12
Council. The City offers a 20
percent homestead exemp-
tion and a senior citizen and 10
disabled citizen exemption 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
equal to $35,000 per eligible household. Council also approved a senior and disabled person tax freeze in Fiscal
Year 2004. The approved tax rate of 0.625159 is the same as Fiscal Year 2021 and is below the no-new-revenue
rate and the voter-approval rate. All tax rate adjustments must be considered and approved by City Council.

Residential properties provide the majority of tax revenue for the City. Personal, mineral, and real properties
associated with commercial, industrial, and agricultural entities provide the remainder of the ad valorem tax
revenue.

SOURCE OF PROPERTY TAXES PER TYPE OF PROPERTY

1%
7%

Residential

Commercial
35%
Industrial/Agriculture/Mineral
57%

Business Personal Property

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