Page 428 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS
FREQUENTLY ASKED QUESTIONS

Taxation

What is the current tax rate?
The adopted FY 2027 tax rates are shown below. General Fund .235
These rates are based on the certified Tarrant
Appraisal District taxable values. Debt Service .055

Total .290
The FY 2027 adopted tax rate of $0.290 is $0.005
Appendix
less than the FY 2026 tax rate of $0.295.

What revenue does one cent on the property tax rate generate?
The certified total taxable value (discounted for value protest) provided by the appraisal districts for FY
2027 budget is $11,649,319,978 (net TIF). One cent is the equivalent of $1,164,932 (net TIF) in revenue to the
City of Southlake.

What percentage change occurred from the FY 2026 certified tax base to the FY 2027 tax base?
The percentage change from FY 2026 certified taxable value to FY 2027 certified was 0.5% reduction (net
TIF).

What is the distribution of the tax base between residential and commercial property?
In FY 2027, residential property accounted for approximately 72% and commercial/industrial/retail property
accounted for 28% of the total tax base.

What is meant by the terms “No-New-Revenue Rate” and “Voter-Approval Rate”?
The “no-new-revenue rate” (formerly called the effective tax rate) is the rate which would generate the
same tax revenue in the new year as in the current year, for properties on the roll in both years. The “voter-
approval rate” (formerly called the rollback rate) is that rate which is three and a half percent higher than
the maintenance and operation portion of the no-new-revenue rate, plus the required debt service for the
new year. These calculations determine how the City of Southlake will advertise taxation plans under state
truth-in-taxation laws.

What is Southlake’s no-new-revenue rate and voter-approval rate for FY 2027?
The no-new-revenue tax rate for FY 2027 is $0.301616, higher than the adopted rate of $0.290. The voter-
approval rate (adjusted for unused increment rate) for FY 2027 is $0.377378.

What percentage change are we anticipating in general fund sales tax revenue for FY 2027
(Adopted)?
It is estimated that we will collect $24,664,500 in General Fund sales tax in FY 2027. This number represents
a 8.8% increase when compared to the FY 2026 Adopted Budget.

428 FY 2027 City of Southlake | Budget Book