HomeMy WebLinkAboutEuless Today Budget Edition 2003/2004EULE S.
The City Magazine
2003/2004 Budget Edition
7Celcome to the cool, fall days filled
with activities galore. Please check
our Community Services and Libary
calendars and the local TV Channel 16 to
participate in our great events.
The City Council is pleased to present a budget
that continues to provide the best services for our
citizens with no city tax increase and no increase in
our water and sewer rates.
The decrease in the ad valorem tax rate is the
highlight of Euless' 2003/2004 Fiscal Budget. It's
only two-tenths of a cent, but it brings our tax rate
down to 49.5¢ per $100 valuation. And with ever-
increasing demands on household budgets, our goal
was to decrease the tax burden on our citizens.
Although the economy has not improved
significantly, we were successful in holding down
costs while maintaining our high level of services.
Throughout the next budget year, we will be
striving to complete some major projects that will
further enhance our already shining image in the area.
Mayor Mary Lib Saleh
Tax Rate Impact FY 2004
Average Home Value (2003) $118,437
Less: Homestead Exemption, 20% $23,687
Adjusted Value $94,750
Annual Tax Burden: $469.01
or monthly $39.08
Over 65 Average Home Value (2003) $109,076
Less: Homestead Exemption, 20% $21,815
Adjusted Value $87,261
Less: Over 65 Exemption —$35,000
Net Value 52,261
Annual Tax Burden:
or monthly
$258.69
$21.56
Note: Home values are based on July 2003 average home values provided
by Tarrant Appraisal District.
(a) Euless' average home value.
(b) Average home value of senior citizen property in the City of Euless.
(c) Bedford has no homestead exemption.
Source: Tarrant Appraisal District Web Site
Tax Rate & Exemption Comparisons��
City
2004
Homestead
Senior
Citizen
Tax with
Homestead
Tax with
Sen. Citizen
Average
Home Value
Tax Rate
Exemption
Exemption
Exemption on
Exemption on
911/02
$118,437a
$109,076b
Bedfordc
0.389
0%
$50,000
$461
$230
$138,211
Hurst
0.499
20%
$35,000
$473
$261
$114,543
N. R. Hills
0.570
15%
$36,000
$574
$323
$120,252
Grapevine
0.366
20%
$60,000
$347
$100
$171,848
Euless
0.495
20%
$35,000
$469
$259
$118,437
(a) Euless' average home value.
(b) Average home value of senior citizen property in the City of Euless.
(c) Bedford has no homestead exemption.
Source: Tarrant Appraisal District Web Site
When it is finished next summer, Main Street will be a beautiful new
entrance to our city. Pedestrian -friendly and well -lighted, the new
Main Street corridor will be a model for other cities.
The Preserves at McCormick Park, which are currently under
construction, will boast ponds, a boardwalk, a fishing pier, an
outdoor classroom and a wetland exhibit area.
We will also be breaking ground on Phase III of The Parks at
Texas Star on Saturday, November 8. At this Veteran's Day event,
we will be honoring our Euless veterans when we turn the dirt on
"Veterans Field" — the latest addition to our already famous ballfields.
But the big unveiling will be Saturday, December 6. That is
when we will host the Grand Re -Opening of Euless City Hall. The
reconstructed home of the city's administrative offices, the new
City Hall will be a beautiful sight — both inside and out.
In the recent constitutional amendment election, voters passed
several amendments that affect municipalities. Proposition 6
permits the refinancing of a home equity loan with a reverse
mortgage. This amendment may prove very useful to our residents
who have paid off their mortgages.
Proposition 10 authorizes the Legislature to permit a person to
take office without an election if the person is the only candidate
to qualify in an election for that office. This amendment could
possibly be a cost-saving measure.
Proposition 5 allows the exemption from ad valorem taxation
of travel trailers not held or used for the production of income and
Proposition 13 permits cities to establish an ad valorem tax freeze
on residence homesteads of the disabled and of seniors over 65
years of age.
The City Council, the City Staff and I look forward to
continuously improving our community. From improvements in
infrastructure to Arbor Daze, from recreational opportunities to
revenue -generating operations, we're Building A Better Tomorrow
for our citizens. C-A�
60,000
50,000
30,000
20,000
10,000
Population Growth
Sales Tax Per Capita
(General Fund)
Total Sales Tax
City Sales Tax Per Capita
Bedford (1.5¢)
$8,232,309 170
Hurst (10)
$8,033,813 219
N.R. Hills (10)
$8,277,696 138
Grapevine (10)
$14,939,771 343
Euless (1.25¢)
$5,600,737 113
Note: Data from FY02
Comprehensive Annual
Financial Report.
$20,417,358
Expenditures Per Capita
(General Fund)
TotalM Expenditures
City Expenditures Per Capita
Bedford
$21,183,399
$439
Hurst
$17,649,057
$480
N.R. Hills
$27,735,398
$464
Grapevine
$37,176,011
$853
Euless
$20,417,358
$410
Note: Data from
FY02 Comprehensive
Annual
Financial Report.
+r
''
40,850 41,10 42,900 44,700 45,550 46,166 47,950
49,750
38,149 39,980
1990 1995 1996 1997 1998 1999 2000 2001 2002 2003
Note: Population for non -census years calculated by
North Central Texas Council of Governments.
EULE§uay
If you have questions or
comments about this
edition of Euless Today,
please contact the Mayor's
Office at 817-685-1419.
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