The Richardson City Council approved the 2023-24 at its meeting Monday, Aug. 28. The $399,004,296 budget represents a $44,517,417, or 12.56 percent, increase from the 2022-23 budget. It funds several key initiatives aimed at enhancing the quality of life for community stakeholders.

“The Fiscal Year 2023-24 budget will maintain and protect the fiscal strength of Richardson while continuing to provide the high level of service the community expects with meaningful investments in maintaining core infrastructure,” said Richardson City Manager Don Magner.

Property Tax Revenue Projection

The city’s property tax rate remains unchanged in the 2023-24 budget, with a current rate of $0.56095. 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, driven by growth in Certified Values, which have risen 9.59 percent. Notably, the Senior Tax Exemption has been increased to $130,000, demonstrating the City’s commitment to supporting its senior population.

Prioritizing Strategic Investments for a Stronger Community

The City Council has provided guidance to focus funding to address three key areas for continued investment. They are for infrastructure; police, fire and other public safety initiatives; and employee retention and recruitment.

Infrastructure Investments Designed to Keep Up With Inflation

Due to accelerated inflation rates, increases in spending will maintain and improve community infrastructure. Richardson has several dedicated funds allocated to vital community services, including Street Maintenance, Alley Maintenance, Facility and Parks Maintenance, Economic Development, Equipment Replacement and IT Replacement. These dedicated funds reflect the City’s focus on enhancing infrastructure and promoting economic growth. The proposed FY24 budget includes the following:

Proposed FundingPercentage Increase
Street and Alley Rehabilitation$7,692,18218.1%
Facility Maintenance$599,44228.8%
Park Maintenance$599,44228.8%
Equipment Replacement$5,194,1927.3%

The additional funding will improve investments for neighborhood street and alley pavement rehabilitation projects and create additional resources for municipal building and park maintenance to improve facility lifespans and improve hike and bike trails. Additional resources are also identified for street signs, street and pavement markings, and the ongoing maintenance of streetlights.

Public Safety Investments for Equipment and to Support Training and Recruitment

Expanded investments to support public safety include funds to replace 15 Police Department patrol vehicles and to purchase 20 Flock cameras, which are used for crime modeling and to combat vehicle theft and find wanted suspects. Additional funding is provided to assist mental and physical health assessments, peer support training and community engagement.

Fire Department increases include investments to replace a pumper truck, ambulance, two fire command vehicles, and to purchase a new fire inspection vehicle. Increased funding is also allocated to add three firefighters for blocking apparatus to improve the safety while responding on major roadways.

Employee Retention and Recruitment

In response to the competitive labor market, adjustments are proposed for all employees with merit-based increases of up to 6 percent. The adjustments reflect Council goals to provide fair and competitive wages. With that goal, “living wage” adjustments are also proposed to raise the baseline for full-time positions to $18.89 per hour. This adjustment, based on a thorough MIT study of Dallas County, reinforces commitments to create sustainable livelihoods for City workers.

Water/Sewer, Solid Waste, Golf and Hotel/Motel Funds

The Water/Sewer Fund includes 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. The Golf Fund anticipates the temporary closure of Course 2 at Sherrill Park for renovations and incorporates capital purchases for maintenance and improvements. In the Hotel/Motel Fund, an increase in hotel occupancy tax and Eisemann Center revenues reflects positive trends in the hospitality industry, allowing for facility upgrades and improvements along with a robust Eisemann Center Presents event calendar.

Typical Taxpayer Impact Statement