Page 259 - CityofSouthlakeFY25AdoptedBudget

Figure 2
Total Tax Bill for Average Residential Property in Southlake

Debt Service
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Going back to Figure 1, the remainder of the City’s debt service (55%) for FY 2025 will be funded by self-
supporting debt. These debt payments will be made from special revenue, such as voter-approved sales
tax levies. FY 2025 debt service to be paid as self-supporting debt is $8,676,668. Why is it important to
make the distinction between tax-supported and self-supporting debt? Because self-supporting debt has
specific revenue streams, many of which are voter approved, for the repayment of the bonds. Also, sales
tax-supported debt uses funds collected by shoppers in the City, many of which reside elsewhere.

For example, the construction of The Marq Phase I was funded using cash from the General Fund and
Southlake Parks Development Corporation (SPDC). Phase II, known as Champions Club was funded through
the voter-approved three-eighths cent sales tax collected by Community Enhancement and Development
Corporation (CEDC). Thanks to these sales tax dollars, the corporation funding is used to pay the debt
incurred from construction and to supplement the operating expenses for The Marq Southlake not recovered
with facility and program fees. Additionally, a portion of the funds are used for economic development
initiatives.

Voter-approved special levy sales tax districts also provide a source of funding for park development and
crime control initiatives. Projects that are built implement the Capital Improvements Program. Town Square
developers have estimated that 70% of sales in Town Square are to patrons living outside the city, and these
imported taxpayers, if you will, are helping to construct Southlake’s infrastructure development.

FY 2025 City of Southlake | Budget Book 259