Little Elm News Flash

Posted on: September 25, 2017

The Town of Little Elm adopts FY18 Budget and Tax Rate

Budget Planning

     The development of the Town of Little Elm Fiscal Year 2018 -2022 budget came with a tremendous number of challenges, but also outstanding opportunity as the Town is still one of the fastest growing areas in the nation. With this growth, there are new sources and higher amounts of revenue to be allocated in the budget, but there is also a mounting list of needs for programs and services to accommodate the growth and meet the expectations of the community. The budget is a tool for prioritization, communication, and allocation of resources that go toward the implementation of programs, projects and services that fit the needs of a community’s residents and businesses. Town staff develops the operating and capital budgets so that strategic goals and long-term objectives defined in the Town Council adopted Strategic Plan are achieved. The overall budget philosophy of the Town of Little Elm is to provide the highest level of service at the greatest value. This means that the Town must operate in the most effective and efficient method possible to accomplish this goal. 

   The total Fiscal Year 2018 budget, including all funds and transfers, is $77,702,158 compared to $64,257,748 originally budgeted in 2017. The budget of all operating funds will increase by $7,279,528, or 18% over fiscal year 2017. Fiscal Year 2018 total expenditures are greater than the total revenues within the Town Wide budget by $13,164,324. The Capital Project funds located within the General Governmental and Enterprise Utility classifications have budgeted expenditures of $18,015,187 of which $20,701,412 is their available beginning fund balance being spent on projects. Click Here for FY2018-2022 Budget and Financial Plan


ADOPTED TAX RATES


FY 2016-2017FY 2017-2018
Property Tax Rate$0.661687
$0.657671
Effective Rate
$0.601849
$0.601878
Effective M&O Rate
$0.433931
$0.449249
Rollback Tax Rate
$0.634601
$0.657671
M & O Rate
$0.495731
$0.485188
Debt Rate
$0.165956
$0.172483


PUBLIC NOTICE REQUIRED UPON ADOPTION OF THE BUDGET:

   The Town Of Little Elm, Texas Adopted A Tax Rate That Will Raise More Taxes For Maintenance And Operations Than Last Year's Tax Rate; And The Tax Rate Will Effectively Be Raised By 8 Percent And Will Raise Taxes For Maintenance And Operations On A $100,000 Home By Approximately $35.94.

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