Page 2 - CityofMansfieldFY24Budget

Filed
Tarrant County Clerk

CITY OF MANSFIELD, TEXAS 2:19 pm, Oct 04 2024
Mary Louise Nicholson
ANNUAL OPERATING BUDGET County Clerk
by ngorena
FOR FISCAL YEAR 2023-2024

The 2023-2024 Budget will raise more revenue from

property taxes than last year’s budget by an amount of
$7,196,860 which is a 13.44% increase over last year’s

budget. The property tax revenue to be raised from new
property added to the tax roll this year is $4,230,541.

The amounts above are based on the City’s approved Fiscal Year 2023-2024 tax rate of
$0.659293 per $100 of assessed valuation.

City Council Record Vote

The members of the governing body voted on the adoption of the 2023-2024 Budget as follows:

FOR: Mayor Michael Evans, Mayor Pro-Tem Todd Tonore, Council Members Tamera Bounds,
Larry Broseh, Casey Lewis, Brent Newsom, and Julie Short

AGAINST: None

PRESENT AND NOT VOTING: None

ABSENT: None

ADOPTED ADOPTED
TAX RATE BUDGET BUDGET
2022-2023 2023-2024
Property Tax Rate $0.680000/100 $0.659293/100
No-New-Revenue Tax Rate $0.626936/100 $0.608836/100
No-New-Revenue M & O Rate $0.432148/100 $0.431077/100
Voter Approval Rate $0.722037/100 $0.711330/100
Debt Rate $0.215566/100 $0.223129/100

The total (principal) amount of municipal debt obligations owed by the City of Mansfield and
secured by ad valorem taxes is $192,175,000 as of 09/30/2023.