Balch Springs once again saw growth in assessed valuation resulting in an investment into maintenance and operations and a stable tax rate of $0.803000 for residents. This is the third consecutive year of an assessed valuation exceeding an 8% growth rate. The budget will raise more revenue from property taxes than last year's budget by an amount of $572,022, which is an 8.40% increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $134,404. Certified values for 2018 reflect new construction of about $16.7 million.
Sales Tax Trend
Sales Taxes comprise the City’s second leading source of General Fund revenues. Current year collections are on pace for a gain of at least 6%. We are budgeting for an increase of 3.5% next year. Recent and future additions to the business community include Fuzzy’s, Denny’s, and LDG Retail Sites to name a few. The City will continue to partner with sales tax recovery companies to recuperate past taxes due to Balch Springs erroneously paid to other cities or not paid at all. The city recovered over $130 thousand in sales tax during the prior fiscal year.