On September 15, the Southlake City Council voted 7‑0 to adopt a $133.65 million operating budget for fiscal year 2027. The budget includes a modest reduction in the city’s property‑tax rate, bringing it down to 29 cents per $100 of assessed value, down from 29.5 cents in 2026.
Key figures and tax impact
The new rate translates to an equivalent residential tax rate of 23.1 cents after applying the standard 20 percent homestead exemption. For the average‑valued home in Southlake, priced at $1,085,031, the tax bill will reflect this lower rate, offering relief to homeowners while preserving essential services.
Budget composition
The operating budget is organized into 14 distinct funds, with the general fund accounting for $57.5 million. This fund supports the majority of basic city services, from public safety to street maintenance. While the overall operating budget is down 2.9 percent from the previous year, the general fund itself is up 2 percent, indicating a strategic reallocation of resources.
Council deliberations
During the meeting, Mayor Shawn McCaskill praised the plan, calling it “the best budget he’s been involved with since he was elected to the council in 2015.” Council members also considered a separate motion on contract bidding procedures, ultimately approving a suite of contracts for fiscal 2027 with a 6‑1 vote after a councilmember raised the question of whether contracts above a certain size should automatically be sent out for competitive bidding.
McCaskill emphasized the council’s proactive stance, noting that other municipalities are facing budget challenges that sometimes force tax increases. “We talked about it during work sessions in our August meetings,” he said, underscoring the council’s commitment to fiscal responsibility and community stability.
Service continuity
City staff confirmed that the new operating budget retains all existing city services, ensuring that residents will continue to receive the same level of public safety, infrastructure maintenance, and community programs without interruption.
Implementation timeline
The budget and tax rate become effective on October 1, giving residents and businesses a clear timeline to adjust to the new fiscal framework.
For more details on the budget process and the transcript that informed this report, visit CoverGov. Questions or corrections can be directed to the Fort Worth Report at [email protected].
Original reporting: Fort Worth Report — read the source article.
