Southlake City Council approved a tax rate of $0.447 per $100 valuation to support its adopted fiscal year 2018-19 budget during a Sept. 18 meeting. Mayor Laura Hill was absent. Of the $0.447 per $100 valuation, $0.357 will be allocated for the city’s general fund operations and $0.09 for its debt service fund, according to city documents. The tax rate is 1.5 cents lower than the FY 2018 tax rate of $0.462 per $100 valuation, but it is anticipated to yield an increase in property tax revenues. Southlake Tax Rate FY 2018 vs. FY 2019
“As always, we’d like to remind the citizens that it, indeed, is not a tax [rate] increase but that we will be collecting more tax dollars this year than we did last year,” Mayor Pro Tem Randy Williamson said. City Council subsequently adopted an official budget, projecting $117.2 million in revenues and $103.7 million in expenditures for FY 2019.