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 fourth 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 $464,051, which is an 5.47% increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $267,138. Certified values for 2020 reflect new construction of about $31 million.
Sales Tax Trend
Sales Taxes comprise the City’s second leading source of General Fund revenues. Current year collections are projected to remain flat. Future additions to the business community include Dominion Apartments, Comfort Inn Suites, LDG Development, Hillwood Development and Retail Sites to name a few. And it is with great pleasure that we welcome Amazon Logistics to our community. These properties will bring in increased consumer spending. 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.