Frisco City Council held a work session Aug. 10 to discuss the proposed FY2016 budget and tax rate, which is proposed to remain steady at $0.46 per $100 of valuation. The city will hold two public hearings Aug. 24 and Sept. 1 on the proposed tax rate because it is more than the $0.416 effective tax rate, which is the rate needed to generate the same tax revenue as the previous year. The proposed tax rate is less than the rates of several surrounding cities, such as Plano, McKinney and The Colony. This tax rate is calculated to bring in $7.3 million more in property tax revenue than the previous year. The general fund budget would accommodate for 57.5 additional full-time employees, including salaries and benefits. Many of those new positions are slotted for the fire and police departments. The budget would also accommodate for a merit-based salary increase of up to 3 percent for all city employees. Council is scheduled to approved the budget and tax rate Sept. 15. Frisco residents can give input or ask questions about the proposed budget and tax rate during the scheduled public hearings. Click here to read more on the proposed budget and Aug. 10 work session.