After a public hearing, the Richardson City Council approved the 2024-25 fiscal year budget at its Sept. 16 meeting. The $406 million budget represents a $7,074,458, or 1.8 percent, increase from the 2023-24 budget. It lowers the current property tax rate by almost 2 cents while reflecting a projected increase in revenue provided by improved property valuations, that will help fund several key initiatives aimed at improving infrastructure, public safety, economic development, and employee recruitment and retention. In addition, it increases the Senior Tax Exemption to $145,000.
The City’s new fiscal year begins Oct. 1.
More information: www.cor.net/budget
