In the coming weeks citizens will have a chance to weigh in on Richardson’s proposed budget and tax rate for fiscal year 2019-20.
Public hearings on the municipal tax rate will be held during council meetings Aug. 19 and 26. Residents are also encouraged to give feedback on the proposed budget during an Aug. 26 public hearing.
If approved, the municipal tax rate will remain unchanged at $0.0062516 per $100 home valuation.
The city is expecting a 5.6% increase in citywide property values for the upcoming fiscal year. Property tax revenue is responsible for roughly 45% of the city’s general fund, which pays for basic city services such as public safety, parks and administration.
Revenue is expected to be up by 3.5% in FY 2019-20, according to a recent budget presentation. The proposed budget totals $143.6 million, a $4.9 million increase from the estimated year-end revenue of $138.7 million in FY 2018-19.
Citizens can sign up to speak during a public hearing before council meetings begin.