Trophy Club adopts $38.5M budget for FY 2024-25

Breaking down the tax rate

The FY 2024-25 property tax rate was approved at $0.415469 per $100 of taxable valuation, which is the same tax rate that was passed by council last year.

The average taxable value of a home in Trophy Club is $675,495 according to Denton Central Appraisal District’s 2024 home value report which includes appraisals of more than 3,600 homes in the town. A homeowner with that value would pay about $2,806 in property taxes.

Nearly 160 homes in Trophy Club are located within Tarrant County instead of Denton County. The average taxable value of a Trophy Club home in Tarrant County was estimated at $457,852, according to a 2024 report by the Tarrant Appraisal District.

The tax rate will raise $628,512 more in property tax revenue in FY 2024-25 compared to last year, according to a staff report.

A closer look

Overall, the budget is made up of 15 different funds, each with its own expenses and revenue planned for the fiscal year.

Nearly $16.4 million has been budgeted for expenses through the town’s general fund which is used to cover the cost of daily operations. The general fund projects about $16.3 million in revenue which would come from multiple sources, including property taxes and sales taxes.

On the expenses side, Trophy Club budgeted most of its money for its police department, emergency medical services and parks department.

Trophy Club Finance Director April Duvall said the budget includes a 3% cost-of-living raise for town employees and merit-based raises which would be capped at 2%. The budget also includes funds for two new positions:

• Crossing guard
• Part-time parks maintenance worker

One more thing

The capital projects fund budgets nearly $15.4 million for capital expenditures in the next year. Capital projects listed on the plan include:

• Three street replacement projects
• Two sidewalk maintenance projects
• Renovation of Trophy Club Community Pool

The program also budgets about $1.3 million for the construction of six new pickleball courts at Harmony Park. Council members greenlit the location for the new courts in August after agreeing to hire the McAdams firm to design them earlier this year.

Town officials have also budgeted $4.5 million to enhance traffic along Bobcat Boulevard. A report presented to council members in July made several recommendations for improving traffic flow along Bobcat Boulevard, including installation of a traffic light and a roundabout.