The City Council approved Richardson’s FY 2019-20 Budget Monday night, which will go into effect Oct. 1. The $298 million operating budget is an increase of 4.1 percent from 2018-19 estimated expenditures, while maintaining last year’s property tax rate of $0.62516 and including an increased senior tax exemption of $100,000. The increased budget is made possible in part due to continuation of strong property values experienced in the city associated with growth in the Richardson Telecom Corridor© and North Texas area.
Pursuant to the City Council’s goals, the budget directly applies the impact of this recent growth toward improvements in infrastructure and providing resources for replacing the City’s traffic and information technology legacy systems, as well as supporting public safety.
For more details about the 2019-20 Budget, visit www.cor.net/budget.
