What happened?
Westlake Town Council members approved the fiscal year 2024-25 budget during a Sept. 16 meeting. The budget plans about $24.5 million in expenses and projects $28 million in revenue. The budget includes plans for five new full-time town staff positions and replacement of capital equipment, according to a staff presentation.
In a separate motion, council members approved the property tax rate at $0.16788 per $100 of taxable value. The rate will remain flat for the fourth year in a row after council action.
The details
The budget projects about a $153,476 decrease in revenues from the previous fiscal year, according to the presentation. Finance Director Cayce Lay Lamas said this was due to $4 million of one-time development fees received by the town in the previous fiscal year that won’t be returning this year.
“That’s mostly offset with increases in sales tax receipts and interest earnings,” she said.
A closer look
The budget includes about $1.4 million for a new vacuum trailer and a new fire engine. The town’s Fire-EMS department requested funds for an additional fire engine earlier this year. The budget also includes funding for five new positions:
- Three firefighters
- Two public works employees
FY 2024-25 will begin Oct. 1, 2024 and will end in September 2025. Residents can view the complete budget on the town website.
Also of note
The property tax rate was approved at $0.16788 per $100 of taxable value. The average Westlake homeowner can expect a $304 increase in property taxes owed to the town, according to the budget.
The taxable value of all homes within Westlake is estimated at $2.46 billion, a 9% increase from the year before. Home values are certified by either the Tarrant Appraisal District or the Denton Central Appraisal District depending on which county the home is located in.
Westlake is expected to levy more than $4 million in property tax revenues, Lamas said.
