Page 23 - CityofLakeWorthFY26AdoptedBudget

Revenue Composition and FY 2025–2026 Projections

General Fund revenues for Fiscal Year 2025–2026 are projected to total $20,151,807,

representing a 2.7% increase from the prior year’s current budget. While this increase
reflects several variances, the City continues to maintain a structurally balanced

budget that aligns ongoing revenues with recurring expenditures.

The primary revenue sources for the General Fund include:
Ad Valorem (Property) Taxes

Property taxes remain a consistent and reliable funding source for General

Fund operations. For FY 2025–2026, the City anticipates $1,468,300 in
property tax revenue, which represents a slight increase over the previous

year’s originally budgeted amount. This growth reflects continued increases in
taxable property values and new development within the city limits.

Sales Tax Revenue

The City receives a 1.75-cent portion of the local sales tax, which is the largest
single contributor to the General Fund. For FY 2025–2026, sales tax revenue is

projected at $10,735,000, marking a 6.5% increase over the FY 2024–2025
current budget. This moderate growth trend demonstrates the resilience of

local consumer activity and supports ongoing general government operations.

Fees and Charges for Service
A diverse range of fees—including permits, licenses, franchise fees, and

recreation program fees—contribute additional resources to the General Fund.

While more variable in nature, these revenues help offset the cost of delivering
specific services and maintaining facilities.