Valuation

TOTAL ASSESSED VALUE & TAXABLE VALUE COMPARISON

The chart displayed provides a comparison of property values since FY 2018.

The taxable value shown is net of the incremental taxable value assigned to the Tax Increment Reinvestment Zone (TIRZ) #1. For FY 2022, TIRZ #1 incremental value was $508,142,995.

The difference between assessed value and taxable value is primarily due to exemptions, such as homestead, disabled, over-65 exemption and over-65 tax freeze.

$10.8B

$8.8B

TOTAL ASSESSED VALUE FY 2022

TOTAL TAXABLE VALUE FY 2022

Total

Total Sales Tax Collected In Fy 2022

Sales tax is made up of 4 sources: The Crime Control and Prevention District (CCPD), Southlake Parks and Development Corporation (SPDC), Community Enhancement Development Corporation (CEDC), and the General Fund. The CCPD 1/8% tax ensures that funds are spent on programs and capital purchases that will reduce crime, increase public safety and maintain a high quality of life in Southlake. SPDC administers an additional 1/2% sales tax and applies it towards construction and operation of parks. The 3/8% CEDC-Type A sales tax is spent on the construction and operation of The Marq Southlake facility, as well as pursuing the recommendations of the Economic Development Master Plan in accordance with state law. The General Fund is represented by 1% of every dollar spent within City limits.

General Fund For Fy 2022

General Fund For Previous Fiscal Year

The largest General Fund revenue source for the city of Southlake is Ad Valorem, or Property Tax. The second largest General Fund revenue source is the Municipal Sales Tax. Another major revenue source for the city is Franchise Fees, which represent revenue from private utility companies operating in Southlake. One percent of every dollar spent within the city goes towards the General Fund, which accounts for core city functions such as police, fire, engineering, planning, finance, and administrative operations.

Hotel Occupancy Tax Collected In Fy 2022

The Hotel Occupancy Tax (HOT) is authorized under the Texas Tax Code, Chapter 351. The city of Southlake levies a 7% tax on room receipts per Ordinance No. 769 (adopted February 2000). Tax on rooms from the Hilton in Town Square and the Cambria Southlake provide revenue in this category. Use of these funds is restricted and planned expenses must be authorized uses under the Texas Tax Code, Chapter 351.

$35,288

Sign Permit Fees Collected In Fy 2022

The regulation of signage within the city is handled internally. Each permit has a specific permit fee associated with it. The chart above highlights the revenue generated from processing sign permits.

Total Fees From Building Permits In Fy 2022

The Planning and Development Services Department processes many different types of permits. The chart above includes fees collected from new construction permits, sign permits, accessory buildings, pools, commercial re-models, re-occupancy, mechanical/electrical/plumbing (MEP) permits, re-roof, and more.