Archives > Southlake Times > News
Print
E-mail
Comment
Rate
RSS
Share
Budget, tax rate approved by council
Christina Rowland/ crowland@acnpaper.com
The city council approved both the annual budget and the tax rate for fiscal year 2010. The budget was presented at a previous meeting as being $67,753,004. The budget is structurally balanced and supports the strategic management system that the city follows. Within that budget were the operating budgets for each of the city departments. Those departments will now ensure that they operate within their allotted amount.
The tax rate was approved at $0.462. The rate will be the same for the seventh straight year in a row. The rate of $0.4620 per $100 in property value will be the same; however, $0.01 will be transferred from the debt service portion of the tax rate to the operation portion of the tax rate. This sets the rate for general operations at $0.332 and the debt service portion at $0.13. The small change will provide an additional $500,000 in the general operating budget. Although the residents of Southlake will not see a hike in their tax rate this year they are still paying more than some in neighboring suburbs.
Mayor John Terrell thanked not only the staff for the hard work on this budget but also the members of council. He said this is the most active he has ever seen a council in the budget planning process since he has been on council.
Both the budget and tax rate as well as amended numbers for the FY 2009 budget were all approved unanimously.
The new Fiscal Year 2010 starts Oct. 1.
The following are comments from the readers.
In no way do they represent the view of Starlocalnews.com
In no way do they represent the view of Starlocalnews.com
You must register with a valid email to post comments.
Only your Member ID will be posted with the comments.
Only your Member ID will be posted with the comments.
Registered users sign in here:
Become a Registered User
- Return to: News «
- Home «
- Top of Page ^
