HomeMy WebLinkAbout1st Property Tax Public Hearing presentation 08-26-19Fiscal
Responsibility
Educational
Leaders
Sense of
Community
Planned &
Responsible
Development
Preservation
of our Natural
Beauty
Informed
Engaged
Citizens
Strong
Aesthetic
Standards
Innovative
Transparent
Integrity Driven
Government
Family Friendly
& WelcomingAligning
the Values
of Westlake
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$1.6M Average Home Value
$54 Per Year Impact (on average)
$4.50 Per Month Impact
2
•General Fund
•Operating Days (Fund Balance Days)
•Sales & Use Tax
•Development Fees
3
Property Tax Rate per $100 Assessed Valuation
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5
FY2019-20
Proposed tax rate is
Current Tax Rate is $0.15600
$0.16018
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FY 2020 FY 2019 Variance
Average home $1,600,000 $1,600,000
20% homestead -$320,000 -$320,000
Net taxable $1,280,000 $1,280,000
Proposed rate 0.16018 0.15600 0.00418
Tax Payment $2,050 $1,996 $54
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CARROLL ISD Property
Value Exemption
Net
Taxable
Value
Taxing
Rate
Tax
Amount
Percent of
Tax Bill
037 -Town of Westlake 1,600,000 -320,000 1,280,000 0.16018 $2,050 6%
220 -Tarrant County 1,600,000 0 1,600,000 0.23400 $3,744 11%
224 -JPS Health Network 1,600,000 0 1,600,000 0.22449 $3,592 11%
225 -Tarrant County College 1,600,000 0 1,600,000 0.14006 $2,241 7%
919 -Carroll ISD 1,600,000 -25,000 1,575,000 1.38100 $21,751 65%
Total $33,378 100%
KELLER ISD Property
Value Exemption
Net
Taxable
Value
Taxing
Rate
Tax
Amount
Percent of
Tax Bill
037 -Town of Westlake 1,600,000 -320,000 1,280,000 0.16018 $2,050 6%
220 -Tarrant County 1,600,000 0 1,600,000 0.23400 $3,744 11%
224 -JPS Health Network 1,600,000 0 1,600,000 0.22449 $3,592 11%
225 -Tarrant County College 1,600,000 0 1,600,000 0.14006 $2,241 7%
907 –Keller ISD 1,600,000 -25,000 1,575,000 1.4084 $22,182 66%
Total $33,809 100%
Homestead Exemption
•This is an exemption offered by the Town which reduces the taxable value of all
homes by 20%, which is the maximum amount allowed under the law.
Additional 65+ or Disabled Exemption
•A $10,000 exemption on the taxable value of homes of 65+ or disabled residents.
(This is one or the other, not both).
Homestead Tax Ceiling
•Limits the total amount of taxes residents who are 65+ or disabled pay so that in
future years their taxes will not increase beyond what they are currently paying.
•Any resident that was 65 when Westlake adopted its ad valorem rate, will not pay
any municipal ad valorem taxes due to this tax ceiling.
•If a resident turned 65 this year, then the amount they paid this year in municipal ad
valorem taxes would remain fixed at that amount. They will not pay more but could
potentially pay less if taxes are lowered.
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1.Dependent on sales/use taxes and development
fees for the largest portions of revenue
2.Revenue streams fluctuate year to year
3.Service demands growing as community is
growing
4.Financial stability is important
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Sales &
Use Tax
38%
Development
Permits & Fees
38%
Property
Tax
12%
Franchise Fees
Court Fines
& All Other
12%
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14
-20%
-10%
0%
10%
20%
30%
40%
FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020
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16
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$2,301,137 Proposed Tax Levy
1,870,604 Prior Year Tax Levy
$430,533 Additional Funds
(253,533) New Improvements
$170,000 Net Gain
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Rates Tax Levy
FY19/20 Proposed Rate .16018 $2,067
FY 18/19 Adopted Rate .15600 2,013
Variance .00410 $ 54
Approximately $4.50 a month
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20
Shown in millions
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Direct Service Delivery
•Fire –EMS
•Building & Development
•Municipal Court
•Public Works
•Parks and Trails
•Educational Services
•Police (contracted with provider)
Shared Service Delivery
•Finance
•Communications
•Town Secretary
•Facilities & Maintenance
•Information Technology
•Human Resources
•Administration / Customer Service
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255 289 303 328 355 698 703 785 803 847 992 1063 1109 1184 1200 1270 1310 1450 1610 1700
$4,192
$5,218 $6,075 $7,987 $9,817
$10,189 $10,286
$11,377 $11,729 $11,283 $10,810
$13,518
$12,367
$17,562
$20,462 $20,478
$24,323
$26,146 $25,308
$26,816
0
200
400
600
800
1000
1200
1400
1600
1800
$-
$2,500
$5,000
$7,500
$10,000
$12,500
$15,000
$17,500
$20,000
$22,500
$25,000
$27,500
$30,000
FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020
Population Daily Operating Expenditures
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$3,938 Total Tax if no PTR
1,871 Sales Tax Rate Savings
$2,067 Total Tax Payable
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FY2019-20
Proposed rate
$0.16018
$54 per year per $1.6M valuation
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Today’s hearing does not set the tax rate
1.Second public hearing on the proposed tax rate will take
place on Monday, September 9, 2019 at 5:00 p.m. in the
first floor Council Chambers of the Town Hall located at
1500 Solana Blvd., Bldg. 7, Suite 7100, Westlake, TX
76262.
2.The vote on the proposed tax rate will take place on
Monday, September 23, 2019 at 5:00 p.m. in the first
floor Council Chambers of the Town Hall located at 1500
Solana Blvd., Bldg. 7, Suite 7100, Westlake, TX 76262.
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