Argyle Town Council members got a look at projected revenues for the upcoming fiscal year during a June 17 work session.

While no action was taken, officials got a preview of the town's projected financial forecast and explored whether to hire an outside consultant.

The background

In the work session, Town Administrator Erika McComis provided key takeaways related to the town’s projected revenue, including:
  • The estimated taxable value is at $1.59 billion.
  • The average home market value was $758,833 with an average taxable value of $663,892. Last year’s average taxable value was $617,339.
  • The tax rate is $0.343111 per $100 valuation.
  • McComis said she thinks there will be an opportunity to lower the tax rate this year.
  • There is $6.8 million in proposed revenue for the upcoming fiscal year, she said.
McComis said there will be a better analysis of the town’s revenues at the end of July, when the certified estimates will be released.

There are also a number of new residential and commercial permits and registrations, which translate into taxable properties for those subject to town taxes, including:
  • 75 new home builds
  • Construction for the Argyle Commerce Center, the beginning phase for the new Argyle Middle School and a car wash
Schools must pay for permits and inspections, McComis said later.

McComis said she wants to schedule a future budget workshop to discuss revenues and expenditures.

Also of note

In a separate discussion and agenda item, council examined whether it wanted to outsource a five-year financing forecast for the town.

“Because we do have facilities coming on board, you have streets that we need to look at,” McComis said, explaining items the city has to keep in mind when planning ahead.

She said she could bring a cost for the forecast back for council to consider. Mayor Rick Bradford signaled support for the idea the town should operate like a business, and that a plan and direction are necessary to ensure town officials spend money wisely.