Page 43 - HaltomCityFY25Budget

City Of Haltom City Annual Budget, FY2025 Budget Overview

MAJOR SOURCES OF REVENUES

Major sources of revenue are taxes, licenses and charges for operating services, and bond issues for capital
improvement funds.

Taxes and Franchise include property tax, sales and use taxes, and franchise fees. Property tax estimates
are based on current property values, new construction, and the adopted tax rate. Estimates for sales
and use taxes are adjusted according to the economic locally and nationally. A more prudent and strategic
approach to fiscal planning is necessary when possibly facing economic uncertainties, particularly a recession.

Property taxes are budgeted on values of properties determined by the Tarrant County Appraisal District,
the City’s tax rate, and the expected collection rate. New growth and the increased values from new
developments adds to the City’s property values and will continue to increase revenues while allowing
tax rate reductions in this formula. Franchise taxes have been adjusted based on laws affecting
telecommunications in past years.

Licenses & Permits, Charges for Services, Fines, and Fees include licenses, permits, charges for services,
and fines. Trend analysis and known new development projects are used to project the charges for services.

Intergovernmental revenues are grants from other governmental entities. The City receives grants for
Streets, Police, Fire, Drainage, Parks, and Library.

Other revenues are donations, interest income, and other miscellaneous revenues.

Transfers are transactions between funds. Transfers include administrative fees, fleet service fees, debt
service payments, and billing fees.

Bond Proceed are a way to raise funds for major capital projects and infrastructure improvements. Although
bond revenues show in the year they are received, repayment expenses can carry for multiple years.

FY2025 ALL FUNDS TOTAL REVENUE $102,470,783
(BY REVENUE TYPE)
35,000,000 Charges For Service
31,285,550
30,000,000 Sales & Other Taxes
20,154,000
Property Taxes
25,000,000 23,055,718
20,000,000

15,000,000
Transfers
Franchise Intergovernmental 10,161,976
10,000,000 6,325,344
4,261,000 Other
Licenses & Permits Fines & Fees 4,637,775
5,000,000 1,611,520 977,900 Bond Proceeds
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