Page 15 - PowerPoint Presentation

Property Tax Revenue History
shown in millions

$3.000 $2.703 $2.840
$2.500 $2.307
$2.033
$2.000 $1.479 $1.578 $1.627
$1.500 $1.442 $1.367 $1.353 $1.433
$1.000
$0.500
$0.000
FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22
Proposed

Town of Westlake Property Tax Revenue from FY11/12 – FY21/22 proposed.

The ad valorem tax is allocated between Maintenance and Operations (M&O) in the General Fund
and Interest and Sinking (I&S) debt service for the Town. The allocation for M&O is $.10284 and
totals $1.7M. The allocation for I&S debt service is $0.06504 and totals $1.13M. Please see the tax
rate change below:

Va
r
Tax Rate Change FY20/21 Y21/22 ance
F
i

Adopted Proposed

M&O $0.12490 $0.10284 $(0.02206)
I&S $0.04298 $0.06504 $ 0.02206
Total $0.16788 $0.16788 $ 0.00

We have also been very fortunate that the Town’s property values, for both residential and
commercial categories, continue to be strong during the current economic times.

Appraised Value vs Taxable Value

shown in billions

3.00
2.50
2.00
1.50
1.00
0.50
0.00
FY16/17 FY17/18 FY18/19 FY19/20 FY20/21 FY21/22
Appraised Value Taxable Value

This graph shows the historical appraised and taxable value of the Town of Westlake from FY16/17 to FY21/22.

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