Page 64 - Grapevine FY23 Adopted Budget (1)

Ad Valorem taxes for I&S are collected through the Debt Service fund. The City has adopted a tax
rate of $0.128094 for the Debt Service fund, meaning 47% of tax collections fund principle and
interest payments on outstanding debt. In comparison, last year’s I&S rate of $0.131376 represented
48% of tax collections.

The total tax levy for FY22 is budgeted at $27.8 million. Ad Valorem taxes represent 31% of
General Government revenues.

Ad Valorem tax collections totaled $26.3 million in FY21, an increase of 4% from the previous year.
Actual collections in FY22 are estimated to reach $27.3 million which is 2.7% higher than the
previous year.

AD VALOREM FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY-2022
TAXES

M&O $9,655,982 $11,332,790 $11,765,848 $12,740,172 $13,521,637 $14,125,716
I&S $10,772,371 $11,309,205 $12,271,794 $12,865,818 $13,110,052 $13,224,889
Total Collections $20,428,353 $22,641,995 $24,037,642 $25,605,990 $26,631,689 $27,350,605
Gain / (Loss) ($529,456) $2,213,642 $1,395,647 $1,568,348 $1,025,699 $718,916
% Change -2.5% 10.8% 6.2% 6.5% 4.0% 2.7%

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