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CITY OF LAKE WORTH
SUPPLEMENTAL INFORMATION
RELATED TO THE PROPOSED BUDGET
FOR FISCAL YEAR ENDING 09/ 30/ 25
PROPERTY TAX RATE COMPARISON
FISCAL YEAR
2024/ 2025 2023/ 2024
Property Tax Rate 0. 380557/ 100
No -New -Revenue Tax Rate 0,376996/ 100 0. 398246/ 100
No -New -Revenue M & O Tax Rate 0. 184440/ 100 0. 179924/ 100
Voter Approval Tax Rate 09485420/ 100 0.380557/ 100
De Minimis Tax Rate 0.543534/ 100 06445369/ 100
Debt Tax Rate 0, 294525/ 100 00194336/ 100
The proposed property tax rate for the 2024/ 2025 budget year is $ 0.485420/ 100 of
valuation.
The total debt obligation for Lake Worth secured by property taxes is $ 31,880,000.
The City of Lake Worth expects to expend $2,956 for notices required by law to be published
in a newspaper for the fiscal year ending September 30, 2024 and has budgeted $8,075 to be
spent for such notices for the fiscal year ending September 30, 2025.
The City of Lake Worth expects to expend $0 to directly or indirectly influence or attempt to
influence the outcome of legislative action for the fiscal year ending September 30, 2024 and
has budgeted $0 to be spent for such efforts for the fiscal year ending September 30, 2025.
Cash on hand by fund as of 06/ 30/ 24
General Fund $ 10, 703,510
Park Improvement Fund $ 170,767
Child Safety Fund $ 1, 865
Court Technology Fund $ 15, 094
Court Security Fund $ 122, 633
Confiscated Property Fund $ 14,803
Street Maintenance Fund $ 1, 383, 121
Municipal Jury Fund $ 933
Truancy Fund $ 48,540
Stormwater Utility Fund $ 360,455
PEG Fund $ 136,000
DOJ Equitable Sharing Fund $ 8, 146
Water/ Sewer Fund $ 6, 7121917
Debt Service Fund $ 1, 554,775
2024 Certificates of Obligation $ 21, 654, 127
Hotel Tax Fund $ 1, 547,698
The cash balances listed above are unaudited. For the most recent complete audited
financial statements please visit the City's website at www.lakeworthtx.ore.
