Page 25 - CityofSouthlakeFY25AdoptedBudget

Revenue Source FY 2024 Adopted FY 2025 Adopted $ Change %
(all funds) Budget Budget Change

Ad Valorem
(Property Tax - all funds) $34,002,950 $34,741,025 $738,075 2.2%
Sales Tax 39,653,500 43,739,684 4,086,184 10.3%
Hotel Occupancy Tax 2,090,500 2,347,250 256,750 12.3%
Franchise Fees 2,973,106 3,453,329 480,223 16.2%
Fines 811,500 806,500 (5,000) -0.6% Budget Overview
Charges for Services 6,179,011 6,326,081 147,070 2.4%
Rental Income 153,824 153,824 0 0.0%
Permits/Fees 1,594,100 1,509,100 (85,000) -5.3%
Miscellaneous 1,000,900 997,000 (3,900) -0.4%
Water Sales-residential 19,000,400 19,000,400 0 0.0%
Water Sales-commercial 5,400,200 5,400,200 0 0.0%
Stormwater-residential 924,300 927,050 2,750 0.3%

Stormwater-commercial 687,000 692,500 5,500 0.8%
Wastewater Sales 12,576,000 11,000,000 (1,576,000) -12.5%
Sanitation Sales 2,729,700 2,856,450 126,750 4.6%
Other Utility Charges 280,800 280,800 0 0.0%
TIF District 9,562,848 9,605,358 42,510 0.4%
Interest Income 2,916,570 5,442,900 2,526,330 86.6%
Total Revenues $142,537,209 $149,279,451 $6,742,242 4.7%

Figure 6 shows the change in taxable value (net TIRZ) since 2018 and documents the impact of new
construction on the values during the same time period. The total taxable value shown reflects the tax rate
decreases from year to year and excludes the value related to the City’s homestead and other exemptions.
Southlake’s property values have increased appreciably over time, as shown in Figure 7. The difference
between assessed value and taxable value is primarily due to tax rate reductions and exemptions.

State law requires a taxing unit to calculate two rates after receiving its certified appraisal roll: the no-new-
revenue tax rate and the voter-approval tax rate. The no-new-revenue rate is the rate that will generate the

Figure 6

Taxable Value Comparison

% Increase New Construction
Fiscal Year Taxable Value* New Construction
Prior Year as % of Total
2018 $6,662,494,784 4.60% $331,766,093 5.0%
2019 $7,286,898,962 9.37% $426,443,267 5.9%
2020 $7,769,729,082 6.63% $353,194,601 4.5%
2021 $7,768,644,007 -0.01% $261,355,087 3.4%
2022 $8,220,731,143 5.82% $144,702,157 1.8%
2023 $9,064,721,083 10.27% $128,609,945 1.4%
2024 $10,564,623,953 16.55% $169,392,409 1.6%

2025 $11,275,155,717 6.73% $127,637,112 1.1%
*net TIRZ value

FY 2025 City of Southlake | Budget Book 25