Page 2 - CityofMansfieldFY25Budget

Filed
Tarrant County Clerk

CITY OF MANSFIELD, TEXAS 10:37 am, Feb 18 2025
Mary Louise Nicholson
ANNUAL OPERATING BUDGET
County Clerk
FOR FISCAL YEAR 2024-2025 by ngorena

The 2024-2025 Budget will raise less revenue from property

taxes than last year’s budget by an amount of $-374,271
which is a -0.60% decrease over last year’s budget. The

property tax revenue to be raised from new property added
to the tax roll this year is $3,271,229.

The amounts above are based on the City’s approved Fiscal Year 2024-2025 tax rate of $0.645
per $100 of assessed valuation.

City Council Record Vote

The members of the governing body voted on the adoption of the 2024-2025 Budget as follows:

FOR: Mayor Michael Evans, Council Members Tamera Bounds, Larry Broseh, Juan Fresquez,
Brent Newsom, and Julie Short

AGAINST: None

PRESENT AND NOT VOTING: None

ABSENT: Mayor Pro-Tem Todd Tonore

ADOPTED ADOPTED
TAX RATE BUDGET BUDGET
2023-2024 2024-2025
Property Tax Rate $0.659293/100 $0.645000/100
No-New-Revenue Tax Rate $0.608836/100 $0.668844/100
No-New-Revenue M & O Rate $0.431077/100 $0.441610/100
Voter Approval Rate $0.711330/100 $0.700254/100
Debt Rate $0.223129/100 $0.223129/100

The total (principal) amount of municipal debt obligations owed by the City of Mansfield and
secured by ad valorem taxes is $234,190,000 as of 09/30/2024.