HomeMy WebLinkAboutFinancial Budget 2007i
I
2007/2008 Budget Edition
The City of Euless
201 N. Ector Drive
Euless, Texas 76039
817-685-1400
www.euless.org
We are pleased to announce that the Euless
City Council approved the FY2007-08
budget on August 28th. Euless is
fortunate to have continued strong
commercial and residential growth. This
has allowed the Council to approve a
budget that continues all existing services
and provides for enhancement throughout our City while lowering
the City's tax rate.
The Council approved a tax rate of 47(C per $100 of assessed
valuation, a reduction of nearly 2(C from the current rate. This is the
twelfth consecutive year that the Euless tax rate has either been
reduced or maintained. While taxes on an individual property may
increase or decrease based on the assessed value, taxes calculated on
an average appraised home in Euless will be slightly less.
With a growing population of 53,400, the general fund budget
includes expenditures of $33,270,986. During the budget process,
emphasis was placed on continuing a high level of service to our
citizens, providing a competitive employee compensation package,
maintaining proper reserve levels, and encouraging economic
development, redevelopment and revitalization throughout our
community.
The Council is also committed to providing for capital
improvements to ensure that infrastructure remains sound and
using cash reserves whenever possible to limit debt issuance. We are
very pleased that this budget will not require the issuance of any
debt.
The future of Euless is bright. We're anxiously anticipating the
purchase of land and the design of a new Euless Senior Center. The
Texas Star Conference Centre will also be expanded and
improvements will be made to the Midway Recreation Center. The
(continued on back page)
In addition to the reduction of the tax rate, Euless offers the
following exemptions and deferrals for homeowners:
• Homestead Exemption of 20%
• Senior Exemption of $35,000 for residents
age 65 and older
• Freeze the property tax for homeowners at
age 65 or disabled.
The owner of a house valued at $100,000, who has the 20% home-
stead exemption, would pay $376 in City taxes annually. This is a
reduction of $15.60 from the current year. Senior citizens with the
same value would pay $211.50 annually. For more information about
exemptions or freezes, please contact Tarrant Appraisal District.
A Word from the Mayor
Dear Citizens,
Let me begin by saying that
the city of Euless is in the best
financial position we have been
in since I have served as your
Mayor! The Council and Staff
have worked together through Mayor Mary Lib Saleh
the years to enhance economic development, add
residential areas and provide many services for our
citizens.
You may know there are 39 cities in Tarrant County and the
city of Euless is the fourth largest. Our population is
54,300 citizens and growing. Tarrant County has more
cities than any other county in the state of Texas.
Your city council approved Resolution No. 07-1261 at the
August meeting and I'd like to share it with you:
Our vision for Euless, Texas, is a progressive community
with economic diversity, recognized for its quality
shopping, cultural, educational and recreational
amenities and community planning that focuses on the
quality of life with a strong emphasis on public safety and
a stable base of dedicated employees. We envision
additional new job opportunities in health care, industrial
and technological commerce and retail trades. The City's
proactive leadership will maintain a sound fiscal policy
with a balance between single and multi -family housing.
Persistently searching out new economic development
opportunities, we foresee continuing and consistent
revitalization and redevelopment to prevent deterioration
in appearance or quality of business facilities, residences
or infrastructure. This includes constantly updating code
requirements and enforcement. Additionally, we are
committed to a compatible business relationship with the
DFWAirport and our neighboring communities.
The Council and Staff are pleased to announce a two cent
decrease in our tax rate. Please study this Budget issue and
learn where and how all the monies are collected, spent
and saved for special improvements. We are extremely
proud of our Budget and look forward to another year of
serving our citizens with a responsible fiscal policy.
PRIE IIIUMBERR TO !(NOW
Tarrant Appraisal District
817-284-0024
www.tad.org
Tarrant County
Tax Assessor
817-884-1100
www. tarrantcounty.com/etax
Tarrant County College
817-515-8223
www.tccd.edu
John Peter Smith (J1'S)
Hospital
817-921-3431
www.jpshealthnet.org
HER ISD
817-283-4461
www.hebisd.edu
Grapevine/Colleyville 1SD
817-488-9588
www.gcisd-k12.org
(continued from front page)
Euless Public Library will add study rooms and a display space
for Euless historical artifacts. This budget provides for
additional personnel including three police officers and three
firefighters.
Business in Euless is good. New development during the past
year totaled $44,471,963 bringing the City's total taxable value
to $2,597,021,301, an increase of 6.6% over the prior year.
More people are supporting their community by shopping in
Euless. Money spent locally circulates longer within the
community and improves the quality of life. For each dollar
spent in Euless, 2% of the taxable sales are returned to the City
to support public services, lower property taxes, provide for
crime control and prevention and to enhance our library,
parks and to promote economic development.
The City Council also approved the water and sewer fund
budget totaling $16,699,630. This budget provides for the
distribution and treatment of water and wastewater for Euless
customers. The City purchases the majority of its water and
has all wastewater treated by Trinity River Authority (TRA). As
a result of increased cost to the City by TRA, water and
wastewater rates will increase effective October lst. Water
rates will go up 17(t per 1,000 gallons and wastewater rates will
go up by 21¢ per 1,000 gallons. This budget also provides
approximately $1 million dollars to continue the replacement
of water and wastewater lines throughout the City to keep the
infrastructure sound.
The Council has also committed funds for drainage
improvements and will partner with Tarrant County to
complete an overlay on a portion of North Main Street and has
provided funding for improvements to the northern portion of
Fuller Wiser Road.
"Many years of stable leadership and conservative fiscal policy
has placed Euless in an exceptionally strong financial position.
Euless City Council and staff pledge to the citizens to provide
efficient services to protect and enhance the quality of life. We
will commit to continue this pledge and make Euless an even
better place to live," said City Manager Gary McKamie.
Betterment Fund Works Ilard for Euless
Each month, citizens have the opportunity to contribute
50(t to the Euless Betterment Fund through their water
bills. Monies from this fund are used for the city's 1+1=2
Program. This wonderful program was designed to give
away trees at the Arbor Daze celebration. All residents are
encouraged to plant trees in their yards throughout the City
of Euless. This contribution supports the city's Annual
Christmas Parade of Lights and the Holidaze Kid Zone at
Midway Recreation Center. It also supports the fantastic
programming at the Euless Public Library such as the
MasterWorks Music and Arts Series. Thanks to each of you
who help make these programs possible.
General Fund Expenditures - $33,270,986 Total Expenditures
Community Services
Admin/ (7%)
Development
(16%)
Public Works
(4%)
Fire
(21%)
Non -departmental
Where Do Your Tax Dollars Go?
Tarrant County College
(6%)
City of Euless
(20%)
Tarrant
County
Hospital
(10%)
Police (26%)
Tarrant County
(11%)
*HEBISD - $1.597. GCISD - $1.570
Where Does Your Sales Tax Go?
ISD* (58%)
For every dollar of taxable sales in Euless, an 8.25% sales tax is levied.
The State of Texas collects 6.25% and the remaining 2% is used by the
City of Euless as follows:
Crime Control
and Prevention
District
(0.25%)
Property Tax Reduction (0.25%)
Library, Parks
and Economic
Development
(0.5%)
General Fund (1%)
If you have questions or comments about this edition of
Euless Today, please contact Betsy Boyett at 817-685-1821.
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