Richardson City Manager Don Magner has filed the City’s proposed 2023-24 fiscal year budget in preparation for its first presentation to the City Council on Monday.
The proposed budget includes a property tax rate that will remain unchanged, with a current rate of $0.56095, and a projected increase of 7.05 percent in property tax revenue over the FY23 Adopted Budget, driven by significant growth in certified values.
The Water/Sewer Fund proposes a 3 percent rate increase. The Solid Waste Fund introduces a $1/month rate increase for residential customers, while maintaining a 26 percent senior discount. A 3 percent rate increase for commercial customers is also included.
Several dedicated funds are also allocated to vital community services with a focus on infrastructure, public safety, employee retention and recruitment, and economic development.
If approved, the estimated annual impact to the average Richardson homeowner is an increase of $196. Public hearings on the tax rate and budget are scheduled for Aug. 21 and 28 respectively. Budget adoption is scheduled for Monday, Aug. 28.
More information: www.cor.net/budget
