Juan Aguilar, Senior Analyst Economic Development Marketing Services
City Council
Carrollton is a Home-Rule City and operates under a Council-Manager form of government. The City Council (composed of the Mayor and seven Councilmembers) sets City policy, while the City Manager is responsible for implementing that policy and overseeing City operations.
EMAIL Mayor and City Councilmembers mayor.council@cityofcarrollton.com
Carrollton is a vibrant, resilient community with a strong foundation and a bright future. As a mature, inner-ring suburb, we are uniquely positioned to both address challenges and seize meaningful opportunities for growth and attract investment through Economic Development initiatives. Through Carrollton’s Destination 2040 Citizens' Vision Plan, residents are embracing HEART. They envision a City that is Healthy, Engaging, Accessible, Revitalized, and Thriving.
City Council's vision is for Carrollton to be the community that families and businesses want to call home. To reach our destination, the City Council continues to invest in infrastructure. For each of the last four years, Council has invested over $100 million annually in essential projects while maintaining affordability and thriving cultural and creative experiences. The City is currently managing $400 million in infrastructure projects that will revitalize the City’s transit corridors, ensure purposeful development throughout the City, and provide robust and sprawling parks, trails, and natural amenities. Providing access to uniquely Carrollton outlets that offer opportunities to celebrate who we are and where we are going continues to be a focus.
Join us in ensuring that Destination 2040 comes to life. Let’s put the HEART in our HOME.
From Left: Deputy Mayor Pro Tem Christopher Axberg, Councilmember Jason Carpenter, Councilmember Rowena Watters, Mayor Pro Tem Richard Fleming, Mayor Steve Babick, City Manager Erin Rinehart, Councilmember Dr. Andrew Palacios, Councilmember Daisy Palomo, Councilmember Nancy S. Cline
Mayor Steve Babick
HistoryofCarrollton
Carrollton’s early settlers arrived in the 1840s, purchased land from The Peters Colony, and opened the area's first U.S. Post Office on May 16, 1878. The Dallas-Wichita Railroad arrived in Carrollton in 1879 and by 1882, the rural community of Carrollton had one steam gristmill, four cotton gins, two churches, two schools, and an estimated population of 500.
On June 14, 1913, Carrollton voted to incorporate as a general law city. By the mid-1920s, Carrollton had held its first bond election and organized a volunteer Fire Department. Carrollton’s first City Charter was adopted in 1961, providing the home-rule form of government under a manager and City Council still used today. Carrollton rapidly expanded in the 1970s and 1980s, growing into today's vibrant and thriving community with a population of 136,543.
Department Spotlight
Carrollton Parks & Recreation
Carrollton’s parks and recreation system has grown from small community efforts into a defining part of the City’s identity. Carrollton’s first park opened in 1924, when Mr. Ashley Webb’s property was converted into a public space through a community initiative led by the Women’s Civic Study Club, which funded Webb park’s initial equipment. Formal municipal organization followed decades later, with the establishment of the Parks & Recreation Department in June 1969. At that time, the system consisted of just three parks and 10 acres of developed land, laying the groundwork for future growth.
As Carrollton expanded, so did its recreational infrastructure. In 1975, City Council adopted guideline for neighborhood parks, including a goal of 18.5 acres of parkland per 1,000 residents. The department also leveraged federal grants through the Texas Parks & Wildlife Department to support park development and improvements. During this period, marquee facilities such as the Rosemeade Recreation Center, Josey Ranch Sports Complex, and Indian Creek Golf Club were developed, significantly broadening athletics, fitness, and leisure opportunities for residents of all ages.
In the early 21st century, the Department shifted focus toward sustainability, neighborhood connectivity,
To view previous department spotlights, visit cityofcarrollton.com/finance.
historic preservation, and inclusive access. Its mission emphasizes providing innovative and high-quality recreation opportunities while preserving parks and natural resources that support community health and safety. Expanding trail and greenbelt systems now connect neighborhoods and parkland, while the A.W. Perry Homestead Museum serves as a key historic and cultural anchor. The City’s Recreation, Open Space, and Parks Master Plan—shaped by extensive public input—guides future priorities, including trails, natural area conservation, adaptive recreation, and environmentally responsible maintenance.
Today, Carrollton Parks & Recreation oversees more than 1,800 acres of parkland, miles of trails, recreation centers, sports fields, dog parks, disc golf courses, natural areas, and historic venues, continuing its commitment to a vibrant and evolving community.
City Manager Erin Rinehart
Governance
Founded in1878 and incorporated in1913
911 full-time equivalent City employees
The City of Carrollton is governed by an at-large Mayor,four single-member district Councilmembers, and three at-large district Councilmembers.
There are also10 appointed boards, commissions, and committees made up of85 Carrollton residents serving various volunteer functions. Visit cityofcarrollton. com/boards to get involved and help set the direction for Carrollton’s future.
Message from the City Manager
Thank you for reading the City of Carrollton's Popular Annual Financial Report (PAFR). This PAFR provides a community profile; accomplishments and activities overview; and high-level, easy-to-read budgetary, financial, and trend data.
Investing in our future ensures the City of Carrollton is the community that families and businesses want to call home. It requires balancing community needs and expectations with strategic financial planning and investments in City technology and infrastructure. The City’s longstanding fiscally conservative strategies promote community sustainability, prioritize customer service, and reinforce organizational flexibility to meet evolving community needs. As an organization, we strive to be better, faster, and friendlier.
The City of Carrollton is home to 136,543 residents and more than 8,000 registered businesses. Carrollton experienced much of its growth in the 1980s and 1990s. As a result, the City is currently investing in replacing infrastructure to maintain diverse industry and meet the mobility, recreational, and service delivery needs of its residents and businesses. In fiscal year 2025, the City emphasized funding public safety needs, including a new Carrollton Fire Rescue purpose-built reserve apparatus, additional school resource officer and sergeant positions, and an animal adoption trailer. The City also focused on the future, including save-as-you-go projects such as additions to the Animal Services & Adoption Center, Fire Station 6, Tor Hill Park, and other facility upgrades. The City continued to focus on technology, including funding new Library online catalog software and AI projects to move Carrollton into the future.
The progress made in fiscal year 2025 set the groundwork, sometimes literally, for prioritizing Capital Improvement Projects of the future, including road, street, alley, park, and water system updates. In fact, more than $116 million in Capital Improvements were able to be included in the fiscal year 2026 budget plans.
Visit cityofcarrollton.com for more information about the City.
City Profile
Carrollton continues to benefit from a strong and diverse local economy. Home to more than 8,000 businesses and 136,000 residents, the City’s job base includes logistics, manufacturing, healthcare, construction, professional services, and corporate offices. No single industry dominates, helping protect the local economy from major fluctuations. Higher-than-average income and education levels support a stable tax base and steady consumer spending.
Employment reached approximately 101,116 jobs in 2025, even as broader economic conditions softened. Average annual wages are around $83,300, and median household income is roughly $99,100, both above state and national averages. Housing conditions remain stable, with strong homeownership and low vacancy rates, indicating consistent demand rather than speculative growth. Poverty levels remain low, and higher wages help offset a cost of living that is slightly above the national average.
The Dallas–Fort Worth region continues to attract relocating companies, increasing demand for industrial and warehouse space. Carrollton’s location along Interstate 35 and near major airports supports this growth. Development is advancing at Trinity Mills Station, a 25-acre mixed-use project near the DART rail that continues to add housing, office, retail, and restaurants and is expected to generate approximately $1 billion in real estate value. In 2025, Carrollton’s population reached 136,543, and taxable property value exceeded $23 billion. Economic development efforts supported four major corporate projects, generating over $171 million in private investment and more than 2,000 jobs, while retail reinvestment added another $6 million in improvements.
136,543 Population
Race & Origin
or More Races: 2.3%
Native Hawaiian and Other Pacific Islander alone: 0.2%
Other: 0.3% 44.8% B achelor’s Degree or Higher
101,116 Employment
38.4 Median Age $99,115 Median Household Income $353,600 Median Home Value
Source: 2025 North Central Texas Council of Governments
Access • Amenities
Lifestyle
Central location in the DFW Metroplex with direct access to I-35E, President George Bush Turnpike (PGBT), SH 121, I-635, and Dallas North Tollway
3 DART light rail stations, a regional passenger rail, and citywide bus service
25 minutes from both DFW International and Dallas Love Field Airports
25 minutes from Downtown Dallas
Four18-holegolfcourses
(two City and two privately owned), 29 developed parks & recreation sites, 39 athletic fields, 19 trail miles, 2 libraries, 2 recreation centers, a senior center, a swimming complex, 2 splash parks, 2 dog parks, a full-service tennis center plus 11 satellite courts, 10 pickleball courts, 2 soccer courts, a museum, an amphitheater, a 40-acre nature preserve, 2 18-hole disc golf courses, a vibrant TransitOriented Development Community, and the entertainment district in Historic Downtown Carrollton featuring restaurants, shops, and entertainment such as 3 Nations Brewing Co. and the Pocket Sandwich Theatre
Vibrant Economy
Corporate Headquarters
➤ AER Manufacturing
➤ FastSigns
➤ Schneider Electric
➤ Southland Industries
(fka Brandt)
➤ Western Extrusions
Commercial Development
➤ Created 2,000+ jobs
➤ Retained 252 jobs
➤ 56.8M sq. ft. of new/retained commercial space
➤ Combined $1,521,247,135 net new taxable value on real property and business personal
property
By the Numbers
➤ 101,116 jobs in Carrollton
➤ $427,297,249 in total valuation of commercial permits issued in 2025
➤ 6,624 permits issued
➤ 93% industrial/flex, 94.5% retail, and 81.8% office occupancy rates
➤ 52.1M sq. ft. commercial space occupied
Top 10 Private Employers
➤ Southland Industries (fka Brandt)
➤ AER Manufacturing LP
➤ Western Extrusions
➤ BuzzBallz
➤ Schneider Electric
➤ Fairway Independent Mortgage Corp.
➤ International Paper
➤ MB2 Dental
➤ Cyrus One
➤ Sanmina
A Look Back
In 2024, the City Leadership developed a long-range vision plan for the year 2040 which articulates the City's aspirations for the future, builds on existing strategic efforts, and provides an overarching framework for future endeavors. Carrollton continues to focus on being the place that families and businesses want to call HOME.
The City of Carrollton is one of 13 cities in Texas that has earned all six of the State Transparency Stars through the state of Texas Comptrollers Office. The transparency program provides residents an in-depth look at the City’s traditional financial information, debt obligations, pension, procurement, open government, and economic development. This effort ensures easily accessible information on the City’s website, cityofcarrollton. com/finance
2025 BOND SALE
Sold $31 million for a premium at $33.4 million.
$33.4M
A Look Ahead
➤ In October 2025, Dallas Area Rapid Transit (DART) opened the new Silver Line which stretches east to west across Carrollton. The 26-mile line stops at the Downtown Carrollton Station, and provides a new method of transportation to DFW Airport Terminal B.
➤ Check out carrolltonfestival.com for the latest news and entertainment info about Carrollton’s 16th annual Festival at the Switchyard, scheduled for Saturday, November 7.
➤ The Capital Improvements Plan Advisory Committee reviewed the City’s capital needs, and based on the debt capacity provided by the Finance Department, the Council adopted five propositions for the May 2, 2026 Bond Election. The propositions include:
FY25 Net Position
Over time, increases or decreases in the City’s net position may be an indication of whether the financial situation of the City is improving or deteriorating.
The City of Carrollton’s overall net position increasedby6.9%or$59.6 million from the prior fiscal year. The three components of net position are:
Net Investment in Capital Assets
The largest portion of net position ($534M) is invested in capital assets. Carrollton uses these capital assets to provide a variety of services to the public, such as streets, roads, alleys, libraries, etc. These assets are not available for future spending. Restricted Net
This portion of net position ($8.3M) is restricted, representing funds that are limited to construction activities, payment of debt, or specific programs by law.
Financial Highlights
The following pages provide easy-to-read highlights from the fiscal year 2025 Annual Comprehensive Financial Report (ACFR). Visit cityofcarrollton.com/finance to view the full report.
STATEMENT OF ACTIVITIES
(Changes in Net Position)
Carrollton’s fiscal year runs from October 1 through September 30. The City’s statement of activities are shown in the chart below (in thousands).
The remaining portion of net position ($374.8M) is unrestricted, representing resources that are available for services. However, more than $116M was budgeted for Capital Funding in fiscal year 2025.
The fiscal year 2025 net position changes were a result of bond proceeds, pay-as-you-go funding for other capital projects, decreases in pension liabilities, and decreases in self-insured risk liabilities.
GENERAL FUND BALANCE
(Balance Sheet – Governmental Funds)
As of September 30, 2025, the fund balance for the General & Administrative Fund was $50.8 million.
The General Fund balance represents City reserves and amounts nonspendable or unassigned for special purposes. These amounts are shown in the chart below for the fiscal years ending September 30, 2023-25.
(In Thousands)
City of Carrollton
Financial Highlights
PROPERTY TAX
The total property tax rate is the sum of the rates of all applicable taxing entities, including the city, county, and school district in which the taxable property is located. Carrollton is located in three separate counties, Collin, Dallas, and Denton, and each county has its own tax rate. There are also three independent school districts, Carrollton-Farmers Branch, Dallas, and Lewisville, serving the residents of Carrollton. The largest share of each Carrollton resident’s property tax collected goes to the school district in which the property resides. Depending on the county, there might be additional taxes from entities such as Parkland Hospital, Dallas County Community College, or Collin College. In fiscal year 2025, Carrollton's City Council approved a reduced tax rate for the 11th year in a row, and Carrollton residents currently have the lowest tax rate the City has had since 1990.
Property Tax Distribution
For the 11th consecutive year, the City tax rate was reduced and set at $0.538750/$100 valuation in fiscal year 2025.
CITY RESERVES
The City has a Minimum Fund Balance Policy for each major Operating Fund. The minimum General Fund balance target is 60 days of recurring budgeted expenditures. This financial policy ensures an adequate fund balance in operating funds to maintain liquidity as well as provide the City with capital in the event of unexpected economic downturns and natural disasters. Any available excess fund balance is used to pay for non-recurring capital needs and pay-as-you-go infrastructure investment. As of September 30, 2025, the City had a General Fund reserve rate of 102 days. More than $108 million was invested in capital infrastructure in the fiscal year 2025 budget.
Taxable Value Chart
Fiscal Year Total Taxable Assessed Value
2016 $ 11,086,019,064
2017 $ 11,944,206,839
2018 $ 13,004,287,702
2019 $ 14,235,500,120
2020 $ 15,511,037,472
2021 * $ 11,200,104,358
2022 $ 16,853,486,584
2023 $ 19,135,581,543
2024 $ 21,320,848,649
2025 $ 22,950,437,088
*Note: These figures do not include valuation of protested property at certification date. Due to the impact of COVID-19 in 2021, the original budget was based upon a certified estimate provided by two of the City’s appraisal districts. After the final roll was certified, the budget was amended to adopt a budget related to the certified roll of $15,869,999,609.
Total Taxable Value FY25
$22,950,437,088
$240,818,290
Top Sales Tax Categories
Financial Highlights
The Carrollton City Council adopted abalanced $302millionoperatingbudget which includes the General Fund and multiple dedicated funds.
GENERAL FUND FINANCIAL TREND
SUMMARY (In Thousands)
FY25 General Fund
The General Fund is the City’s main operating fund used to account for dayto-day operations, except those required to be reported in other funds. The majority of City departments and personnel are budgeted in this fund. References to the General Fund in this document include funds aggregated with the General Fund as reported in the Annual Comprehensive Financial Report (ACFR). These funds include Administrative, Economic Development, and Commercial Vehicle Enforcement Funds.
*Includes $667 of investment income, plus a $37,376 reduction to adjust currently held investments to market. This is a loss only on paper as Carrollton holds investments to maturity. However, governmental accounting standards require that this “loss” is reflected in the financial statements.
General Fund expenditures increased to $139.3 million from $131.1 million in fiscal year 2025 largely due to the investment in public safety and parks operations.
In fiscal year 2025, the General Fund, as consolidated in the ACFR, included a final budget of $149.7 million and had actual expenditures of $140.6 million. The majority of General Fund revenues are generated from tax revenues (primarily property and sales tax revenues). Fiscal year 2025 property tax rates were $0.538750 per $100 of valuation and sales tax rates were 1% of all taxable sales. The increase in General Fund revenue from fiscal year 2024 to fiscal year 2025 resulted primarily from increases in sales taxes, property taxes, and investment income.
Financial Highlights
General Fund expenditures in the Annual Comprehensive Financial Report and Popular Annual Financial Report include expenditures from Administrative, Economic Development, and Commercial Vehicle Enforcement Funds.
Fiscal Year 2025 Revenues
Knowing the Region
Financial Highlights
CAPITAL ASSETS
Capital Assets make up 58.2% of the City’s financial position and represent a long-term asset used in delivering services to the public and providing for residents’ needs.
Major FY25 CapitalAssetAdditions
➤ Street and Alley Improvements of $49.8 million
➤ Drainage Improvements of $2.3 million
➤ Water and Sewer Improvements of $14.9 million
➤ Parks and Recreation Improvements of $7.3 million
DEBT
Long-term debt represents bonds used to finance the construction and purchase of capital assets used by the City. These are comprised of items for governmental and business-type activities. In fiscal year 2025, the City issued$33million(includingpremium) innewgeneralobligationdebt to fund a variety of planned capital projects ranging from public safety and tennis center improvements to street and drainage improvements.
Glossaryof Terms
Assigned funds: Amounts set aside by the City for specific purposes that are not restricted or committed
Deferred outflows of resources: Amounts pending recognition as expenses in future periods
Deferred inflows of resources: Amounts pending recognition as revenue in future periods
Franchise fees: Charges to utility companies for the use of public rights-of-way
General fund: The main operating fund for the City
Intergovernmental: Revenue recognized from grant awards and reimbursement of operating costs by other funds
Net investment in capital assets: Capital assets, net of accumulated depreciation, reduced by outstanding capital related debt
Net position: The net position of the City is equal to City assets and deferred outflows reduced by liabilities and deferred inflows
Nonspendable funds: Fund balance representing assets not in a spendable form (i.e. prepaid items or inventory)
Reserves: Amounts of fund balance that are not available for appropriation
Restricted fund balance: Amounts that can only be used for a specific purpose set by external entities
Restricted net position: Restricted assets reduced by liabilities and deferred inflows of resources related to those assets
Unassigned fund balance: Remaining amount that has not been assigned to other funds or been restricted, committed, or assigned to a specific purpose
Unrestricted net position: Remaining net position not included in capital assets or restricted net position
The financial data highlighted in this Popular Annual Financial Report is designed to provide a summary view of the City’s financial activities for fiscal year 2025. Information included in this report can be found in greater detail in the fiscal year 2025 Annual Comprehensive Financial Report (ACFR) located at cityofcarrollton.com/ accounting or by contacting the Finance Department by mail at 1945 E. Jackson Road or 972-466-3110. The financial report was prepared in accordance with Generally Accepted Accounting Principles (GAAP) and was audited by independent public accounting firm Forvis Mazars, LLP.
2025 City of Carrollton Awards & Accolades
➤ Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR), Government Finance Officers Association (GFOA)
➤ Certificate of Achievement for Excellence in Financial Reporting, FY24 ACFR, GFOA
➤ "AAA" Bond Ratings, Fitch Ratings, Inc. and Standard & Poor's
➤ Class 1 Public Protection Classification (PPC) Rating, Insurance Services Office Inc.
➤ ElectriCity® Recognition, International Code Council® and Independent Alliance of the Electrical Industry
➤ Awarded Six Transparency Stars, Texas Comptroller of Public Accounts program
➤ EMS Gold with Target: Heart Attack Honor Roll award, American Heart Association (AHA)
➤ Mission: Lifeline® EMS – Gold Level, (AHA)
➤ Code Professional of the Year Award, Building Officials Association of Texas
➤ Linda Keithley Award for Women in Public Management, North Central Texas Council of Governments
➤ Exceptional Performance Award, American Public Works Association (APWA)
➤ Management Innovation Award, APWA
➤ Excellence in Education, APWA
➤ Annual Achievement in Excellence in Procurement, National Procurement Institute
City information distributed bi-weekly through an email newsletter.
More than 12K+ Subscribers
The City of Carrollton strives to keep residents and visitors connected with all things Carrollton from timely City news and emergency information to updates on City projects, programs, public meetings, and special events. The City offers numerous outlets for community engagement, including On the Horizon, Carrollton’s newsletter offered digitally and mailed out with utility bills, The Carrollton Connection digital eNewsletter, and the City’s government access channel, as well as several social media channels.
ON THE HORIZON NEWSLETTER
Four-page insert distributed to approximately 31,000 Households and available digitally.
LEISURE CONNECTIONS MAGAZINE
Magazine distributed at City facilities and online providing leisure services information, including cultural activities and community events.
30,000IssuesPrintedYearly
CITY COUNCIL MEETINGS
Keep informed by attending meetings and asking to speak, reviewing agendas, and watching live Council meetings. Council usually meets on the first and third Tuesday of the month.
