After a public hearing, the Richardson City Council approved the 2023-24 fiscal year budget at its Aug. 28 meeting. The $399,004,296 budget represents a $44,517,417 increase from the 2022-23 budget, or 12.56 percent. It funds several key initiatives aimed at enhancing the quality of life for community stakeholders.
The City’s property tax rate of $0.56095 remains unchanged in the new budget. This comprises $0.34316 for maintenance and operations and $0.21779 for debt. The City anticipates a 7.05 percent increase in property tax revenue to the General Fund, driven by growth in Certified Values, which have risen 9.59 percent overall. Notably, demonstrating the City’s commitment to supporting its senior population.
The City Council has provided guidance to focus budget funding to address three key areas for continued investment: infrastructure; police, fire and other public safety initiatives; and employee retention and recruitment.
More information: www.cor.net/budget
