Page 57 - CityofGrapevineFY25AdoptedBudget
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Key Revenue Drivers and Assumptions
Property taxes are determined by
the appraised value of taxable
property within the city and the
rate of taxation levied by the city.
The tax rate is assumed to remain
at the current rate of $0.241165 per
$100 of valuation or less
throughout the three-year forecast
window. The net taxable value
(NTV) of all property within the
city increased by $205 million
(2%) in 2024. While NTV will
likely continue an upward
trajectory, the revenue received is
projected to increase by no more
than 3.5% annually due to state-
mandated caps on property tax
revenue growth.
Sales Taxes Beginning in FY21, Grapevine’s sales tax collections grew sharply resulting in near
pre-pandemic collection rates. This trend has continued through FY22 and FY23. However, in
FY25 this trend is expected to moderate resulting in reduced gains in sales taxes.
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