VAN ALSTYNE, TX - According to City Manager Lane Jones, Van Alstyne continues to show very positive business metrics. During his official report to the city council on April 14, he reported that the city has nearly met its fiscal year projection for new home building permits in just six months.
During the second quarter of fiscal year 2020-21, the city issued 77 new single-family home permits between January and March. This year, 179 permits were issued over the same three months.
Van Alstyne also reported a 129 percent increase of all types of building permits compared with the first half of the last fiscal year.
“We remain in a strong financial position, and we will continue to track our financial health as the year continues,” Jones said.
The increase in construction activity coupled with strong sales and use tax growth has added significantly more money than projected to the city’s general fund. As of March 31, Van Alstyne had collected 104 percent of its anticipated revenue.
Broadly speaking, a city's general fund is the money it uses to fund most governmental functions. The fund pays for everything from administration, public works and public safety to parks and recreation, cultural projects and other services. It is funded through property and sales teas as well as licensing fees, permits and fines.
In Van Alstyne, property tax account for approximately 33 percent of the city’s budgeted general fund revenues.
Joshua Baethge | Van Alstyne Leader
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