Southlake City Council will have a chance to approve a lower ad valorem tax rate for the eighth year in a row.

During the Aug. 19 city council meeting , Chief Financial Officer Sharen Jackson provided a proposal to adopt a property tax rate of $0.295 per $100 valuation, a drop of 0.01 cent from the 2024-25 fiscal year rate of $0.305 per $100 valuation.

What happened

Council went over the proposed fiscal year 2025-26 budget during a work session and in the regular session, Jackson proposed a reduced tax rate.

The next step is the first reading at the Sept. 2 meeting and a final reading would happen Sept. 16, according to the presentation.

Jackson said the cut will reduce city revenues by $1.36 million, while the 20% homestead exemption will reduce revenues by an additional $6.3 mil

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