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Sales Tax
A general tax on certain retail sales levied on persons and businesses selling taxable items in the city limits. The City's current sales tax rate is 8.25%,
consisting of 6.25% for the State of Texas; 1% for the City’s General Fund; 0.25% for the Crime Control Prevention District; 0.25% for EpicCentral (formerly
Central Park); 0.25% for Park Venues; and 0.25% for Street Maintenance.
SCADA
Acronym for Supervisory Control and Data Acquisition. An automated system that electronically monitors and controls water storage tanks, pumping stations,
and water supply levels. The system monitors and coordinates water supply throughout the City in order to meet customer water demands, by allowing remote
facilities to be operated from a central location.
Service Level Improvement
A request for new or expanded services that increases funding by more than 5% and over $5,000 from the prior year’s budget.
Special Revenue Fund
A fund used to account for proceeds for specific revenue sources (other than special assessments, expendable trusts, or major capital projects) that are legally
restricted to expenditures for specified purposes or have been segregated by financial policy to be maintained separately.
Street Maintenance Sales Tax
Approved by voters in 2001 to collect a 0.25% sales tax for street maintenance and repair purposes, most recently readopted in 2025 for an 8-year period.
Tarrant Appraisal District
The Tarrant Appraisal District legal entity that has been established in each Texas County by the State legislature for the purpose of appraising all property
within the county or district. All taxing units within Tarrant County use the property values certified by TAD. TAD is governed by a board of directors, whose
members are appointed by the individual taxing units within the district.
Tax Base
The total value of all real and personal property in the City as of January 1st of each year, as certified by each Appraisal District's Appraisal Review Board. The
tax base represents the net taxable value after exemptions. (Also sometimes referred to as "assessed taxable value.")
Tax Levy
The result of multiplying the ad valorem property tax rate per one hundred dollars times the tax base.
Tax Rate
The rate applied to all taxable property to generate revenue. The tax rate is comprised of two components: the debt service (I&S) rate, and the maintenance and
operations (M&O) rate.
Transfers
Transfers made from one City fund to another City fund for purposes such as reimbursement of expenditures, general and administrative services, or debt
service.
Unearned Revenue
Cash Received from customers in advance of services received. Recorded as a liability under generally accepted accounting principles.
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