Page 63 - GrapevineFY24 Adopted Budget

Ad Valorem taxes for I&S are collected through the Debt Service fund. The City has adopted a tax
rate of $0.114232 for the Debt Service fund, meaning 46% of tax collections fund principle and
interest payments on outstanding debt. In comparison, last year’s I&S rate of $0.128094 represented
47% of tax collections.

The total tax levy for FY24 is budgeted at $28 million. Ad Valorem taxes represent 29% of General
Government revenues.

Ad Valorem tax collections totaled $27 million in FY22, an increase of 1.4% from the previous year.
Actual collections in FY23 are estimated to reach $27.8 million which is 3.1% higher than the
previous year.

AD VALOREM FY-2018 FY-2019 FY-2020 FY-2021 FY-2022 FY-2023
TAXES Actual Actual Actual Actual Actual Estimate

M&O $11,332,790 $11,765,848 $12,740,172 $13,521,637 $13,948,203 $14,721,521
I&S $11,309,205 $12,271,794 $12,865,818 $13,110,052 $13,057,580 $13,132,258
Total Collections $22,641,995 $24,037,642 $25,605,990 $26,631,689 $27,005,783 $27,853,779
Gain / (Loss) $2,213,642 $1,395,647 $1,568,348 $1,025,699 $374,094 $847,996
% Change 10.8% 6.2% 6.5% 4.0% 1.4% 3.1%

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