Grapevine to hold public hearing on budget, tax rate Sept. 5

Grapevine residents will have the opportunity to weigh in on the proposed tax rate and budget ahead of its adoption in an upcoming council meeting.

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.