Adopted FY 2019 Budget
What's ahead for FY 2019? Enhanced homeowner tax relief, Champions Club at The Marq Southlake, Connecting Southlake with better mobility on our roads, and a Protect Southlake plan for even better security at our schools.
Proposed FY 2019 Tax Relief
The proposed budget totals $103.6 million dollars and includes a proposed tax rate of .447¢, a reduction of 1.5 cents over the previous year. The reduced tax rate combined with Southlake’s 20% homestead exemption offers homeowners an equivalent tax rate of $.357 for the average valued Southlake home.
FY 2019 Safety and Security Fast Facts
Proposed safety and security initiatives include $550,000 in school safety monies, a new fire ladder truck and new equipment and technology upgrades.
Capital Improvement Project by project type
Each year the budget includes a five-year capital improvement program (CIP), delineating construction projects designed to implement Southlake 2030 and Southlake 2035. This graph shows the projects by project type
Parks Capital Improvement Projects
City parks, open space, and recreational amenities for all ages are a top priority. In FY 2019, Champions Club will open, the design will begin for the Southlake Sports Complex, and the City will start developing improvement plans for Central Park located in the Shops of Southlake.
Public Works Capital Improvement Projects
Public Works construction projects figure prominently in the FY 2019 budget. Mobility projects include construction of Zena Rucker Connector, North White Chapel Boulevard, SH 114 improvements, Kirkwood Boulevard intersection improvements, and landscaping. Funds have also been set aside for water quality projects and water lines along SH 114, Kirkwood, and Westpark Circle.
The City's Capital Improvement Projects are the City's "Big Projects." They are large investments in our City and include improvements to State Highway 114, North White Chapel near Carroll High School, a new vision for Central Park at the Shops of Southlake and important updates to our water system to keep it at top standards.
The FY 2019 budget document contains a detailed and transparent financial look at the plans for FY 2019, the City's plan to get the most value out of the everyday services that make Southlake great. For a high-level preview of what's proposed including the proposed tax rate, read the City Manager's Transmittal Letter to the City Council.
Each year the City Manager is required by charter to file a proposed year-long budget for the Council's consideration. The filing must be complete by August 15.
The following links offer fund by fund spending summaries, an in-depth look at the Capital Improvement Program, and the City's strategic direction. The links will become live after August 16, 2018.
This year's levy to fund maintenance and operations expenditures exceeds last year's maintenance and operations tax levy.
City of Southlake, Texas ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 8.68 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $5.00.