Dallas facing largest property tax drop in 40 years

From police and firefighting to public works and code compliance, departments across the city will see an increase in budgets.

DALLAS – Members of the Dallas City Council recently got their first look at the new, proposed budget. And to say they liked what they saw might be an understatement because it included a “substantial” increase in both property tax revenue and sales tax revenue.

“We have increased our property tax on Dallas by more than 15% and the sales tax number has increased by over 11%,” McGaugh said. Inside Texas Politics, “Therefore, a little bit of additional funding, at least from previous years, to allocate all the services provided by the city.”

The dramatic increase in revenue isn’t limited to Dallas. Cities across Texas are trying to figure out how to distribute all the extra dollars flowing in large swathes of sky-high property values ​​in Texas and inflation, which means consumers are paying more for goods. , thereby collecting more sales tax.

One of the top priorities for the city of Dallas will be reducing the property tax rate.

The proposed budget is $4.5 billion, which is $160 million more than the budget council adopted last year.

It proposes to reduce the property tax rate by about 3 cents to $74.58 per $100 assessed valuation.

While this is important, for many homeowners, it will be a wash in the end.

“With property values ​​now increasing, most of our citizens are still going to pay a high property tax,” McGaugh said. “But the portion that we can control from the council, we expect to be able to reduce the amount we have been able to do in the city of Dallas to a larger amount than less in more than 40 years.”

In addition to property taxes, Counselor McGaugh says another focus is public safety, which accounts for the largest portion of the budget. This includes approximately $10 million to retain and recruit new executives with the goal of hiring hundreds.

Other departments will also see increases in their budgets, which include fire, public works and code compliance.

McGoff says residents expect to hear a lot of discussion over the next few weeks about how the money should be spent. And if they want to weigh in, they can respond during city council meetings on Wednesday.

City council members will also host about three dozen town hall meetings this month. you can get more information Here,

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