Grapevine City Council will hold two separate public hearings for the tax rate and budget during the Sept. 5 meeting.
What you need to know
The city proposed city budget is $212.4 million, according to the document filed by City Manager Bruno Rumbelow. Within the fiscal year 2023-24 budget, the general fund expenses increase by 8%, or about $6.2 million, to a little over $80 million because of compensation and inflationary pressures.
The proposed tax rate is $0.250560 per $100 in assessed value, which is a lower rate than the current tax rate of $0.271775 per $100 value. Because of increased appraisal values, the average homeowner’s homestead value has increased, with the average homeowner seeing a $38.99 city tax bill increase.
Following public hearings on both the budget and tax rate, council is anticipated to take action toward adopting both.
