Page 49 - CityofHaltomFY23Budget

CITY OF HALTOM CITY ANNUAL BUDGET, FY2023 Budget overview

MAJOR REVENUES

PROPERTY TAX

The City’s property tax is levied based on appraised value of property as determined by the Tarrant
County Appraisal District. The Tarrant County Tax Office bills and collects the property tax for the
City.
The combined tax rate is $0.60817 per $100 assessed valuation, which consists of $0.37643 for
maintenance and operations cost (recorded in the General Fund) and $0.23174 for principal and
interest payments on bond indebtedness (recorded in the Debt Service Fund).

Outlook
Property tax revenues for FY2023 has increased by 13.6% due to the increase in property values.
Property value is based on the certified tax roll from the Tarrant County Appraisal District. For
future years, the growth should continue as more of the developments are completed and newer
properties are included on the tax rolls.

Major Influence
Factors affecting property tax revenues include population, development, property value, tax rate,
and tax assessor appraisal and collection rate.

Debt Service Percent of
Fiscal Year General Fund Total
Fund Change
2015 7,941,285 3,636,079 11,577,364 3.1%
2016 7,876,104 4,022,127 11,898,231 2.8%
2017 8,515,314 4,352,034 12,867,348 8.1%
2018 9,326,617 4,331,228 13,657,845 6.1%
2019 9,451,150 5,138,500 14,589,650 6.8%
2020 10,074,387 5,981,136 16,055,523 10.0%
2021 10,263,788 6,271,130 16,534,918 3.0%
2022 10,924,286 6,952,732 17,877,018 8.1%
2023 11,805,499 7,214,306 19,019,805 6.4%

PROPERTY TAX REVENUES

20

15 $6.95 $7.21
$5.98 $6.27
$5.14
$4.33
$4.35
10
MILLIONS 5 $3.64 $4.02 $8.52 $9.33 $9.45 $10.07 $10.26 $10.92 $11.81
$7.94
$7.88
0
2015 2016 2017 2018 2019 2020 2021 2022 2023

General Fund Debt Service Fund