Page 14 - CITY OF AZLE, TEXAS

governments used to determine revenues. Revenues in the Utility Fund were estimated after
determining actual increases in the amount of accounts due to recent growth along with
projections for the coming year.

Highlights

• Taxable appraised ad valorem property values increased $135,489,686;
• New construction value of $69,161,050;
• Increases are projected in sales taxes - $255,000 over original FY 2023-24 budget;
• All current service levels are maintained or expanded for FY 2024-25;
• Compensation plan is expanding with a 5% market adjustment effective the first full pay
period in October 2024. Step increases are also included;
• Ten (10) new positions are included – Firefighter/Paramedic (3); Police Officer (2 –
absorb positions previously funded by AISD); Dispatcher (2); Records Assistant (Police);
Senior Accountant (Finance); and a Library Assistant (part-time to full-time);
• Equipment and fixture purchases include ambulances (3, of which 2 have been received
– Fire); loader/backhoe (Streets/Stormwater), infield groomer (Parks), sprayer/spreader
(Parks), ZTR mower (Parks), universal turf machine (Golf);
• Capital projects include the Dunaway Lane Reconstruction Project, the Walnut Creek Lift
Station Upgrade, the Walnut Creek Force Main Upgrade, the Central Park Trail
Improvement and Extension Project, and the Shady Grove Park Field No. 1 renovation
and light upgrade projects;
• Major maintenance projects include the continued slip lining of sewer lines in the
Shoreline Dr. area and continue adding lift stations to the SCADA system;
• The Street Maintenance Fund includes funds for the reclamation of South Stewart St.;
• Complete the update and revision of the Comprehensive Land Use Master Plan, which
includes the Thoroughfare Plan and Parks Plan, as well as adding a Downtown Plan;
• Continue updating of computer systems and software;
• The ad valorem property tax rate is proposed to increase from the current rate of
$0.5688744 to $0.614087, which will produce a total increase in property tax revenue of
$1,529,327 over the FY 2023-24 budget due to increased property values, new
construction and a debt-issuance for the Dunaway Lane Reconstruction Project (adding
≈ $0.035 to the tax rate); and
• Water and sewer rates will be unchanged.

Property Values and Tax Rates

Taxable value for this year is $1,677,767,961 which is an increase of $135,489,686 (8.79%)
from last year’s certified total of $1,542,278,275. This increase includes $69,161,050 in new
construction.

A combined tax rate of $0.6140869 per $100 is proposed for FY 2024-25, with $0.5324341
allocated to the General Fund for maintenance and operations (M&O) and $0.0816528 allocated
to debt service. The proposed rate is $0.045215 more than the FY 2023-24 adopted tax rate.
The $0.0816528 rate allocated to debt service will generate $1,369,945. The $0.5324341 rate
allocated to M&O will generate $8,933,009. The proposed rate is 6.9463 cents above the no-
new-revenue rate of $0.5446237 and 1.22 cents above the voter-approval rate of $0.6018780.
The proposed rate is equal to the de minimis rate ($0.6140869).

City of Azle FY 2024-2025 Budget 4