Colleyville City Council approved an $83 million budget for fiscal year 2024-25 during the Sept. 17 meeting.

What happened

Along with approving the budget, council adopted the tax rate, which will be effectively raised by 3.33%, according to city documents.

At $0.276204 per $100 valuation, the Colleyville rate is above the no-new-revenue rate but below the voter-approval rate, Finance Director Matt Poston said. That is an increase of $0.015213 per $100, or 5.83%.

Poston said on a house with a $700,000 value, Colleyville taxpayers will actually pay $29 less in 2024 compared to 2023. However, commercial properties will pay $152 more in 2024 on a property valued at $1 million, Poston said.


Poston added that the tax bill is split and paid to five different entities. He said the city of Colleyville makes up about 15% of the overall bill.
The details

Poston stated the budget is built on a $1 million increase in property tax, which equates to an approximate 7% increase. That budget also factored in a new 7% homestead exemption approved for the first time.

The general fund budget is $27 million, followed by Utility Fund at $23.9 million and Capital Improvement Projects at $22.4 million.

Parks and recreation include $7 million for the Heroes Park renovation and construction. That is the largest single item among the nine different funds.


Other projects that are $1 million or more include:
  • City Park playground/splash pad
  • Cheek-Sparger Road design
  • Roberts Road construction
  • General street maintenance
  • Bransford Road Trail from Field Street to Cotton Belt Trail
  • Montclair Drive sidewalk construction
  • Woodbriar and Quail Crest subdivisions water/wastewater construction
  • Tinker Road water/drainage/road reconstruction
  • Pecan Park Estates water project