Page 62 - CITY OF AZLE, TEXAS

The City’s adopted tax rate of $0.6140869 per $100 is $0.0452125 more than the FY 2023-24
adopted tax rate. Most of the increase to the tax rate (77.4% or approximately $0.035) occurred
in the debt service portion of the rate. An increase to the debt service portion of the rate was
necessary to service new certificates of obligation issued in June 2024 and will be discussed
further in the Debt Service Fund section of this document. This year’s rate is $0.0694632
above the no-new-revenue tax rate and is $0.0122089 above the voter-approval tax rate.
However, the rate is equal to the de minimis tax rate and, therefore, does not require voter
approval. The next chart is a graphical representation of the City’s tax rates since 2019.

Sales tax revenue is estimated at $3,380,000 in FY 2024-25, which is an increase of $255,000
(8.16%) over the adopted FY 2023-24 budget. This estimate is based on recent trends in sales
tax collections. Sales tax growth has been robust over the last several years and serves as a
testament to the City’s business-friendly environment. The next chart is a graphical
representation of sales tax collections since FY 2015-16. With the exception of FY 2016-17,

City of Azle FY 2024-2025 Budget 51