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Truth in Taxation
Town of Northlake Tax Rate and Budget Transparency Information
The following information is provided publicly as required by the Texas Property Tax Code Section 26.18. For more information, please contact the Town of Northlake Finance Department at (940) 648-3290.
Contact Town Council
Town of Northlake Budget
Town of Northlake Annual Financial Report
Tax Rate Calculation
This tax rate will raise more total property taxes than last year’s budget
by $1,958,310 or 48%, and of that amount $653,640 is tax revenue to
be raised from new properties added to the tax roll this year.
Ad Valorem Tax & Debt Service Tax Revenue | |||||
|---|---|---|---|---|---|
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | |
General Fund | $939,707 | $1,475,462 | $1,666,794 | $ 2,331,493 | $ 3,659,990 |
Debt Service Fund | $779,229 | $901,111 | $1,670,947 | $ 1,787,929 | $ 2,417,742 |
Total Revenue: | $1,718,936 | $2,376,573 | $3,337,741 | $ 4,119,422 | $ 6,077,732 |
Municipal Tax Rate | |||||
|---|---|---|---|---|---|
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | |
| M&O Rate | $0.170500 | $0.155563 | $ 0.146828 | $ 0.166687 | $ 0.177648 |
| I&S Rate | $ 0.124500 | $ 0.13947 | $ 0.148172 | $ 0.128313 | $ 0.117352 |
| Total Property Tax Rate: | $0.295000 | $0.295000 | $0.295000 | $ 0.295000 | $ 0.295000 |