Page 261 - CityofSouthlakeFY25AdoptedBudget

The Relationship Between Property Taxpayers and Debt
Repayment
At 30.5 cents for every one hundred dollars of valuation, the City of Southlake’s property tax rate supports
basic city services such as public safety, street maintenance, library and community services. It also helps
pay off the debt that’s been incurred for city infrastructure such as new roadway construction and expansion.

Figure 4 (below) illustrates how the City has worked toward the goal to reduce debt. The green portions
show that since 2015, the City has reduced the amount of property taxes which are dedicated to debt Debt Service
repayment while still providing desired services. Taxpayers, specifically homeowners, should be aware of
the conscious effort to relieve the amount of property tax monies that are going towards debt. This effort
represents one of the City’s most important budget commitments.

Since 1994, the City has put voter-authorized sales tax dollars to work on the upkeep and construction of
Southlake’s beautiful parks system. The sales tax monies help with the initial cash payments that jump-
start many of our big projects. In 1998, another portion of sales tax, also voter-authorized, was put to
work for the construction of our public safety buildings. All of that debt was retired in 2017. Recently, the
City incurred more sales tax supported debt to construct Phase 2 of the Marq, known as Champions Club.
However, it is important to note that this debt is being repaid through a 3/8 cent allocation of sales tax, a
voter-authorized use that was approved in 2015. The bronze colored portion of the bar shows how the two
current sales tax district monies (SPDC and CEDC) are paying off the balance of projects like Bicentennial
Park and Champions Club.

Finally, the portion in tan illustrates the debt that is being paid off by the City’s specialized funds and
Southlake’s tax incremental reinvestment zone (TIRZ). The TIRZ is located primarily in Southlake Town
Square and is based on commercial property taxes. This debt was retired in 2018.

Figure 4 Southlake’s Debt per Capita

d W Z W/d d, d /^ Z W / t/d, Kd, Z ^KhZ ^ ^h , ^ hd/>/dz &hE E d/& /^dZ/ dΎ
d W Z W/d d, d /^ Z W / t/d, sKd ZͲ WWZKs ^ > ^ d y /^dZ/ d^
d W Z W/d d, d /^ Z W / t/d, WZKW Zdz d y ^
Ψϴ͕ϬϬϬ

Ψϳ͕ϬϬϬ

Ψϲ͕ϬϬϬ
ΨϮ͕ϱϲϬ
Ψϭ͕ϴϬϬ
Ψϱ͕ϬϬϬ ΨϮ͕ϰϭϵ
Ψϭ͕ϲϲϮ
Ψϭ͕ϵϮϳ
Ψϰ͕ϬϬϬ Ψϭ͕ϰϬϳ
Ψϭ͕ϳϯϳ Ψϭ͕Ϯϴϳ
Ψϯ͕ϬϬϬ Ψϭ͕ϰϲϰ ΨϮ͕ϲϰϱ Ψϭ͕ϭϭϭ Ψϭ͕ϬϬϬ Ψϴϳϳ
Ψϭ͕Ϯϰϵ ΨϮ͕ϰϮϵ Ψϭ͕ϭϵϬ
ΨϮ͕ϭϯϴ
ΨϮ͕ϬϬϬ Ψϭ͕ϵϳϰ Ψϭ͕ϯϵϲ
Ψϭ͕ϳϲϱ Ψϭ͕ϱϵϬ Ψϭ͕ϮϮϭ
ΨϮ͕ϲϳϴ
Ψϭ͕ϬϬϬ ΨϮ͕ϯϰϬ ΨϮ͕Ϭϭϵ
Ψϭ͕ϳϬϲ Ψϭ͕ϰϰϵ
Ψϭ͕ϭϲϬ Ψϭ͕ϭϳϵ
ΨϵϮϯ ΨϳϳϮ ΨϵϮϯ Ψϵϱϰ
ΨͲ
ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ ϮϬϮϮ ϮϬϮϯ ϮϬϮϰΎ ϮϬϮϱΎΎ
Ύ >> d dK ddZ/ hd dK d, d y /E Z D Ed > Z /Es ^dD Ed KE ;d/ZͿ t ^ Z d/Z /E ϮϬϭϴ͘
FY 2025 City of Southlake | Budget Book 261