Southlake City Council adopts tax rate and budget for fiscal year 2018-19

By Renee Yan

Southlake City Council approved a tax rate of $0.447 per $100 valuation to support its adopted fiscal year 2018-19 budget during a Sept. 18 meeting. Mayor Laura Hill was absent.

Of the $0.447 per $100 valuation, $0.357 will be allocated for the city’s general fund operations and $0.09 for its debt service fund, according to city documents. The tax rate is 1.5 cents lower than the FY 2018 tax rate of $0.462 per $100 valuation, but it is anticipated to yield an increase in property tax revenues.

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