Page 334 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS

THE RELATIONSHIP BETWEEN PROPERTY TAXPAYERS AND
DEBT REPAYMENT

At 29.0 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 illustrates how the City has worked toward the goal of reducing debt. The green portions
show that since 2017, the City has reduced the amount of property taxes which are dedicated to debt
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
Debt Service
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. 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 like
the Utility Fund and Southlake’s Tax Incremental Reinvestment Zone (TIRZ #1). The TIRZ #1 is located
primarily in Southlake Town Square and is based on commercial property taxes. This debt was retired
in 2018.
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Figure 4 Southlake’s Debt per Capita
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Ψϳ͕ϬϬϬ
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Ψϲ͕ϬϬϬ
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Ψϳ͕ϬϬϬ
Ψϭ͕ϴϬϬ
Ψϱ͕ϬϬϬ
Ψϭ͕ϲϲϮ
Ψϲ͕ϬϬϬ
Ψϭ͕ϵϮϳ
Ψϰ͕ϬϬϬ Ψϭ͕ϰϬϳ
Ψϭ͕ϴϬϬ
Ψϱ͕ϬϬϬ Ψϭ͕Ϯϴϳ
Ψϭ͕ϲϲϮ
Ψϯ͕ϬϬϬ ΨϮ͕ϲϰϱ Ψϭ͕ϭϭϭ Ψϭ͕ϬϬϬ Ψϴϳϳ Ψϭ͕ϯϯϮ
Ψϭ͕Ϯϰϵ ΨϮ͕ϰϮϵ Ψϭ͕ϵϮϳ Ψϭ͕ϭϴϭ Ψϭ͕ϭϱϯ
Ψϰ͕ϬϬϬ Ψϭ͕ϰϬϳ
ΨϮ͕ϭϯϴ
ΨϮ͕ϬϬϬ Ψϭ͕Ϯϴϳ
Ψϭ͕ϵϳϰ Ψϭ͕ϯϵϲ Ψϵϭϰ
Ψϭ͕ϳϲϱ Ψϭ͕ϱϵϬ Ψϭ͕ϭϭϭ Ψϭ͕Ϭϵϯ
Ψϯ͕ϬϬϬ ΨϮ͕ϲϰϱ Ψϭ͕Ϯϭϯ Ψϭ͕ϬϬϬ Ψϴϳϳ Ψϭ͕ϯϯϮ
Ψϭ͕Ϯϰϵ ΨϮ͕ϰϮϵ Ψϭ͕ϭϴϭ Ψϭ͕ϭϱϯ
Ψϭ͕ϬϬϬ ΨϮ͕Ϭϭϵ
Ψϭ͕ϳϬϲ
Ψϭ͕ϰϰϵ ΨϮ͕ϭϯϴ Ψϭ͕ϯϭϰ
ΨϮ͕ϬϬϬ Ψϭ͕ϭϲϬ ΨϵϮϯ ΨϳϳϮ ΨϵϮϯ Ψϭ͕ϭϳϵ Ψϵϰϳ Ψϭ͕Ϭϴϴ Ψϭ͕ϯϵϲ
Ψϭ͕ϵϳϰ
Ψϭ͕ϳϲϱ Ψϭ͕ϱϵϬ Ψϭ͕Ϭϵϯ Ψϵϭϰ
ΨͲ Ψϭ͕Ϯϭϯ
ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ ϮϬϮϮ ϮϬϮϯ ϮϬϮϰ ϮϬϮϱ ϮϬϮϲΎ ϮϬϮϳΎΎ
Ψϭ͕ϬϬϬ ΨϮ͕Ϭϭϵ
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
Ψϭ͕ϳϬϲ
*Adopted **Adotped Ψϭ͕ϰϰϵ Ψϭ͕ϭϲϬ Ψϭ͕ϭϳϵ Ψϭ͕Ϭϴϴ Ψϭ͕ϯϭϰ
ΨϵϮϯ ΨϳϳϮ ΨϵϮϯ Ψϵϰϳ
334 FY 2027 City of Southlake | Budget Book FY 2027 City of Southlake | Budget Book 335
ΨͲ
ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ ϮϬϮϮ ϮϬϮϯ ϮϬϮϰ ϮϬϮϱ ϮϬϮϲΎ ϮϬϮϳΎΎ
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