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WS Item 4 to 1111 Safi is A UNDERSTANDING YOUR LOCAL PROPERTY TAX Property Tax Distribution Overall Nineteen percent (19%) of the property taxes paid by Southlake residents and businesses go Property Tax Rate to the City of Southlake. The remainder goes to Tarrant County and the local school district $2.479 For most Southlake taxpayers (in CISD) the distribution looks like this 19% 10% 9% 6% 56% City of Tarrant Tarrant Tarrant Carroll ISD Southlake County County County $1.39 $.46 $.26 Hospital College $.22 $.149 The City of Southlake Carroll ISD uses property taxes to fund basic city services like uses property taxes to fund the programs and educational police,fire,parks,zoning,and other services,as well services provided at each of the schools within the as make payments on bonds for capital projects district, and make payments on any outstanding debt 78% 22% 75% 25% City Operations Capital Maintenance&Operations Interest& $.36 Projects $7 04 Sinking $.10 $.35 About 78%of the property tax collected supports About 75%of the property tax collected supports City operations,while 22%supports the repayment of Maintenance&Operations, which funds the daily bonds used to build large capital projects like roads operations of the district, and 25% goes to Interest & Sinking which funds annual debt payments. \a Hi _ 11V-41 411110 i For an average-valued For an average-valued Ili the State Home,the total property tax Over 43% home,the total property tax paid to the City for 2017 was paid to CISD for 2017 was recaptures 2,384. of the property taxcollected by the City $7,861. _ $2 498 (29.9%) I de' for operations f is used to pay for ..., to be redistributed police, fire, to other school districts & emergency response Out of 21 total districts, Carroll ISD has the services. Carroll ISD - 5th lowest Note:The Police Department also keeps tax rate for school districts lir receives funds from the Crime Control and Prevention District. $5,8 5 7 in Tarrant County. Note Financial representations are based on FY 2017 budget amounts r©1 WHERE CAN I GO FOR MORE INFORMATION VISIT OUR WEBSITE AT 4 J ABOUT MY LOCAL PROPERTY TAX? WWW.CITYOFSOUTHLAKE.COM/PROPERTYTAX El °°11M1111.11.11M11.1.1111.1.11.11---- ill MN NM I M , s a* it&ail fmilt mei is 70.03% 27.64% Residential Commercial Sources of Property Tax Most of the property taxes come from residential property owners (70 03%), but the commercial portion (27 64%) is growing. The balance is paid on undeveloped property Residential Tax Relief As residential property value continues to grow in Southlake,the City is returning NE 11 i Carroll ISD has this value to residential property lowered taxpayers through increases in the homestead exemption its overall Southlake has tax rate by y 0.054 3323 36,422 SIX 54.5it 36,226 36 760 residential over1the last 35,495 $5,680 $5, 1 35 tax relief I 1 years, 35,291 35,337 • initiatives 2012 2013 2014 2015 2016 201' since 2009. mem ASSESSED VALUE TAXABLE VALUE The City now The City maintains health The City of payscash y Southlake has a reserves, bond rating of for most General Fund 91 j ng budgetiAAAcapital projects. 250/0 As a result, " Fes,'or ; will be retired in Of operating by S&P property tax Q year and Fitch Ratings supported y expenditures 9 m an undesignated debt fund balance. Carroll ISD has a has been °°°" '•� strong reduced by �'�'. A penny reserve fund, .� — $636 890 assn r on the ' with a bond rating of 450 so°s tax rate in revenue for the City. Aal \l since 2003 A penny decrease by Moody's& in spite of ongoing in the tax rate would save the owner of AA+ infrastructure an average valued home about development. $52.01 per year. by S&P Note Financial representations are based on FY 2017 budget amounts WHERE CAN I GO FOR MORE INFORMATION0 VISIT OUR WEBSITE AT ABOUT MY LOCAL PROPERTY TAX? WWW.CITYOFSOUTHLAKE.COM/PROPERTYTAX CITY OF SOUTHLAKE DRAFT Motorists - Watch for Cyclists Generally, bikes are entitled to all rights and obligated to all duties of the road that apply to a motor vehicle in the State of Texas SHARE THE ROAD • • Bicycle Facilities Map The map below identifies current and proposed future bicycle facilities in the City of Southlake DRAFT Recommended Bicycle .BicycleFacilitiest rtirirok 1 tL ,- : ( For More Information Review the State of Texas Transportation Code-Title 7,Subtitle • C., Chapter 551 or visit the TxDOT Bicycles FAQ webpage el 1... City of Southlake Bicycle 'safety Tips 10 i0 DRAFT 400 Know the Law Bicyclists riding on the street must obey traffic laws - such as stopping at a red light or stop sign Always Wear a Helmet Wearing a helmet while operating a bicycle is always recommended. However, everyone in Southlake 17 years of age and younger is required to wear a helmet Riding at Night State law says that bicycles shall not be operated at night unless: the bicycle has a headlamp and either a red reflector/ red lamp meeting the State of Texas requirements Safety Equipment A person may not operate a bicycle unless the bicycle is equipped with a brake capable of making a braked wheel skid on dry, level, clean pavement Share the Road A person operating a bicycle,if moving slower than traffic,shall ride as near as practicable to the right curb or edge of the roadway Riding on the Street Persons operating bicycles on a roadway may ride two abreast and persons riding two abreast on a laned roadway shall ride in a single lane Signal Your Stop or Turn Bicyclists must use hand signals to signal their intent to stop,turn left,or turn right