Potential Economic Impacts

In addition to considering the importance and need for each potential project, the Blue Ribbon Committee considered the possible economic impact the bond package might have on Lewisville taxpayers. Voter-approved bonds to fund capital projects are repaid using property taxes collected by the City.

Based on a conservative analysis of current and projected property values, among other economic factors, the Blue Ribbon Committee has projected that the proposed bond package (if approved by voters) could result in an increase of up to 1.5 cents to Lewisville’s property tax rate over the next 10 years. This possible increase would amount to about $4.39 per month for the median homeowner in Lewisville based on 2023 values.

Lewisville’s current property tax rate of 41.9 cents is the lowest rate in more than 35 years (since 1986-87). Lewisville has historically held a bond election about every 10 years to address large infrastructure needs. As described below, the three most recent voter-approved bond packages have not resulted in tax rate increases because actual economic growth exceeded the conservative estimates that were used in preparing those bond packages, and because the City’s strong AAA bond ratings secured lower interest rates than projected.

Anticipated Tax Impact

Median Home Value : $351,567
Total Bond Package: $263.4M
Current Tax Rate: $0.419079 per $100 valuation (or 41.9 cents)
Potential Tax Rate Increase: +$0.015 per $100 valuation (or 1.5 cents) to $0.434079
Potential Impact to Homeowner: $52.74 (annual) / $4.39 (monthly)  

Past Bond Impact

2003 Bond Package

$68.7 million

• $64.3 million for streets and drainage projects
• $3.1 million for construction of new city jail
• $1.3 million for construction of a public safety training facility

City Population: 82,900
Projected Tax Rate Impact: No increase
2003 Property Tax Rate: .450500 (when bond election was held)
2014 Property Tax Rate: .438086 (when last bonds approved in 2003 were sold)
Net Tax Rate Change: Decrease of 1.4 cents

2015 Bond Package

$135 million

• $71.6 million for streets and drainage projects
• $39.9 million for parks and trails, including a new recreation center
• $13 million for an indoor aquatic facility at the new recreation center
• $10.5 million for public safety facilities

City Population: 99,480
Projected Tax Rate Impact: An increase of up to 1.8 cents
2015 Property Tax Rate: .436086 (when bond election was held)
2024 Property Tax Rate: .419079 (last bonds approved in 2015 were sold in June 2023)
Net Tax Rate Change: Decrease of 1.7 cents

2021 Bond Package

$95 million

• $95 million for construction of a new public safety center and Fire Station #1

City Population: 109,270
Projected Tax Rate Impact: No increase
2021 Property Tax Rate: .443301 (when bond election was held)
2024 Property Tax Rate: .419079 (last bonds approved in 2015 were sold in June 2023)
Net Tax Rate Change: Decrease of 2.4 cents

2024 Bond Package (proposed)

$262.4 million

• $198.5 million for streets and alleys
• $47.5 million for parks projects
• $16.4 million for public safety projects, including animal shelter expansion

City Population: 134,241
Projected Tax Rate Impact: Increase of up to 1.5 cents
2024 Property Tax Rate: .419079

History of Recent Bond Packages in chart form