Saturday, September 22, 2018

Proposed FY 2019 Budget reduces Southlake Tax Rate

City Manager Shana Yelverton has filed the proposed FY 2019 Budget for City Council consideration.

Proposed FY 2019 Fast FactsThe proposed budget totals $103.6 million dollars and includes a proposed tax rate of .447¢, a reduction of 1.5 cents over the previous year. The reduced tax rate combined with Southlake’s 20% homestead exemption offers homeowners an equivalent tax rate of $.357 for the average valued Southlake home.

“Tax relief with an emphasis on outstanding City services is at the heart of the proposed FY 2019 budget,” said City Manager Shana Yelverton. “We have listened carefully to the Council and our residents and prioritized what is important to them and future of the City.”

Protect Southlake

The proposed budget also includes more than $500,000 for School Safety programs and initiatives to help kids feel safe while they are in school.

“Campus safety is a top priority of the Southlake Police Department,” said Chief James Brandon. “Our strong partnerships with Southlake families and Carroll ISD has helped create new opportunities to enhance school safety while keeping school faculty and our students focused on learning in a safe, protected environment.”

Connect Southlake

The FY 2019 Mobility projects will help keep connect Southlake. Projects like a proposed Texas Turnaround on SH 114 from Dove Road to Kirkwood Boulevard on the City’s northside and the proposed Zena Rucker Road Connector on the south side, will solve some ongoing traffic troubles.

“Efficient and safe transportation solutions that make sense to drivers is what we are striving for,” said Rob Cohen, the City’s Public Works Director. “The projects for FY 2019 have been in the planning stages for several years, and when you combine them with our projects from previous years, they help complete the blueprint that the Council approved in the 2035 Mobility Plan.”

Champions Club at The Marq Southlake

FY 2019 gets underway with the mid-winter opening of Champions Club at The Marq Southlake.  With sales-tax supported construction and operations (through the Community Enhancement Development Corporation), the Marq Southlake will become wholly staffed in FY 2019 as a full-service event and recreation center.  This year’s budget also includes a security strategy to help with customer peace of mind.

“Whether you come to The Marq to enjoy an event at Legends Hall, work out at Champions Club, or spend some time at the Senior Activity Center, we want our guests to feel like they are at home,” said City Manager Yelverton. “The operational plan for this facility puts the customer’s comfort and safety first,” she added.

Reducing Debt

“With this proposed budget, we continue our commitment to reducing debt,” said Chief Financial Officer Sharen Jackson. “As with previous years, 100% of our general fund capital improvement projects are being funded with cash including road construction projects currently underway on White Chapel Boulevard, and intersection improvements throughout the City.”

Jackson also noted that the City has a financial plan to manage the construction of the proposed Southlake Library located at Carillon Parc.  “Just like The Marq Southlake and our other ‘big projects,’ we will work with the Council on a financially smart building and construction plan that will deliver a top-notch facility to our residents.”

“Enhanced protection in schools, improved mobility, an amazing experience at the new Champions Club, these are just some of the priorities of the residents and the Council,” said City Manager Yelverton. “The proposed FY 2019 budget delivers these priorities as well as sets the City up for some exciting future projects.”

For a complete look at the proposed FY 2019 budget please visit CityofSouthlake.com/FY2019

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