Page 62 - CITY OF AZLE, TEXAS
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next chart is a graphical representation of new construction added to the City’s tax base since
2018.
New Construction Value
2023
2022
2021
2020
2019
2018
- 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76
Millions
Sales tax revenue is estimated at $3,125,000 in FY 2023-24, which is an increase of $355,000,
or 12.8%, over the adopted FY 2022-23 budget and is based on recent trends in sales tax
collections. Sales tax collections have been robust over the last several years and serve as a
testament to the City’s business-friendly environment. The next chart is a graphical
representation of sales tax collections since FY 2014-15. With the exception of FY 2016-17,
sales tax collections in the City of Azle have steadily increased over the last decade, even
during the COVID-19 pandemic.
Interest earnings are estimated at $500,000 in FY 2023-24, which is an increase of $445,000
over the FY 2022-23 budget. This increase is the result of rising interest rates on the City’s
invested cash reserves.
Total Intergovernmental revenue is estimated at $2,109,000 in FY 2023-24, which is an
increase of $135,000 (6.8%) over FY 2022-23. The majority of this revenue stream is grant
City of Azle FY 2023-2024 Budget 51
