Page 2 - Proposed Operating Budget FY24
P. 2

Filed
                                                                                             Tarrant County Clerk

                                                     CITY OF HURST                             8:10 am, Oct 12 2023
                                                                                            Mary Louise Nicholson
                                       ADOPTED OPERATING BUDGET FOR
                                                                                                 County Clerk
                                              FISCAL YEAR 2023 – 2024                    by          ngorena


               This budget will raise more total property taxes than last year's

               budget by $1,213,739 (a 5.55% increase), and of that amount

               $23,007 is tax revenue to be raised from new property added to

               the tax roll this year.


               RECORD VOTE BY CITY COUNCIL ON THE Fiscal Year 2024 ADOPTED BUDGET

                NAME                   PLACE                       FOR       AGAINST  ABSTAIN       ABSENT
                HENRY WILSON           MAYOR                       The Mayor only votes in the event of a tie
                CINDY SHEPARD          MAYOR PRO TEM / PLACE 7     X
                DAVID BOOE             PLACE 1                     X
                JOHN MILLER            PLACE 2                     X
                CATHY BROTHERTON       PLACE 4                     X
                GARY N. WALDRON        PLACE 5                     X
                JON MCKENZIE           PLACE 6                     X


                                    TAX RATES FOR FISCAL YEARS 2023 AND 2024


                TAX RATE                         ADOPTED FISCAL YEAR 2023      ADOPTED FISCAL YEAR 2024
                PROPERTY TAX RATE                0.614043 PER $100             0.581150
                NO-NEW-REVENUE RATE              0.588201 PER $100             0.571686
                NEW-NEW-REVENUE M&O RATE         0.504839 PER $100             0.478814
                VOTER APPROVAL RATE              0.614043 PER $100             0.581150
                DEBT RATE                        0.100290 PER $100             0.085578



                                                     MUNICIPAL DEBT

               The total amount of municipal debt obligations secured by property taxes for the City of Hurst is $50.42
               million. Of that amount, $29.225 million is directly secured by and payable form the I&S (debt) property tax
               revenue and $21.195 million is secured by property taxes but payable from other revenue sources.


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