Finance


Lakewood Village enjoys a strong financial position with diversified revenues from utilities, sales tax, franchise fees and growth in property tax revenues due to increases in home values. Lakewood Village ranks third highest of all Denton County communities with average home value. Tax revenues increases have been generated through the growth in the town rather than through higher tax rates; our current tax rate of $0.25 per $100 of appraised value has been unchanged for over twenty years. A $0.05 per $100 debt service tax rate was added to generate additional revenue needed to repay the bonds that were issued to fund the concrete road project.

 

Property Tax Rate per $100

General Fund Sources

 

Financial Disclosures

2017

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Capital Improvement Projects


The Town plans and supervises all public infrastructure improvements such as street, water and sewer projects. The Town also maintains public properties, including buildings, parkway trees and streetlights, and manages solid waste collection and traffic flow.

2016

Fire Hydrant Install on Hillside Dr.
Fire Hydrant Install on Peninsula Dr.

Hydropneumatic Tank

Water Storage Tank

2015

Fire Hydrant Install on Hillside Dr.

2014

Hydropneumatic Tank

Fire Hydrant Installation - Lakecrest Dr.

Wastewater Treatment Refurbishment
Budgeted:  $62,000
Actual Cost: $49,700

Road Construction - Phase 1
Budgeted: $1,888,667
Actual Cost: $1,847,296

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