Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Preliminary FY revenue, taxable value and tax-rate options presented to Northlake council
Summary
Finance Director John presented preliminary FY numbers: certified taxable value ~$3.7 billion (up ~18%), no‑new‑revenue tax‑rate estimate 27¢ (~$9.8M), de minimis estimate ~29.5¢ (~$10.2M); council set hearings Aug.14 and considered calendar sequencing for budget and tax-rate adoption.
John (finance director) briefed the council on preliminary town revenue estimates and the remaining steps in the budget and tax‑rate process. He reported the certified roll shows approximately $3.7 billion in taxable value, an 18% increase year over year with roughly 9% attributable to new value. Using current figures he presented three rate scenarios: a no‑new‑revenue rate of about 27 cents (projected to raise roughly $9.8 million), a voter‑approved conceptual scenario noted at approximately $9.9 million, and a de minimis estimate near 29.5 cents (projected to raise about $10.2 million).
John reviewed other revenue lines: year‑to‑date sales tax collections of roughly $2.7 million through July with a projection of about $3.8 million for FY26; utility revenue projections of about $11.1 million for water sales and $9.2 million for sewer sales; and a partial‑year lease payment projection for a STAR Center lease. He also explained the budget calendar and the legal sequencing that requires budget adoption before formally levying a tax rate and noted the council would need hearings on Aug.14 and possibly Aug.21 for adoption within statutory timeframes.
Council thanked staff for the concise presentation and asked for follow‑up details as the appraisal district completes outstanding items that could affect the certified roll.
