Garland fiscal analysis: consultant says city must add about $8 billion in taxable value by FY 2033–34; $207 million streets package proposed for bond

Kevin Shepherd, a consultant with Virginity Consultants, told a joint meeting of the Garland City Council and Planning Commission that a fiscal analysis tied to the city’s comprehensive‑plan update shows Garland needs to add roughly $8 billion in taxable value by fiscal year 2033–34 to avoid cuts or tax increases.

Shepherd told elected officials and commissioners the study modeled three levels of analysis: current property‑tax revenue per acre; allocation of general‑fund operating (M&O) costs back to parcels; and a third level adding the debt (Interest & Sinking, or I&S) portion of the tax rate to account for debt‑funded facilities and infrastructure. He said the city’s staff and consultants also factored in a proposed streets bond program the consultant described as roughly $42 million per year for five years — about $207 million in total — that staff intends to fund through the I&S portion of the property‑tax rate if voters approve the bond.

"If the bond election passes, you have things covered on the debt side to take care of the streets," Shepherd said. "On the general fund or on the M&O portion ... we need to find an additional $14,000,000 in property tax revenue on the M&O side" by FY 2033–34; he said that increase corresponds to about $8,000,000,000 in additional taxable value across Garland.

Why it matters: Shepherd framed the analysis as an attempt to align Garland’s land‑use pattern, infrastructure and service model with what residents will pay. He said development…