A portion of Collin County homeowners’ property taxes go toward the county’s general fund budget. These budgets are adopted yearly to fund county operations, and Collin County is proposing a general fund budget of $221.5 million for fiscal year 2019-20.
This proposed budget is a 6% increase from the FY 2018-19 general fund budget of $208.8 million.
The biggest chunk of the proposed FY 2019-20 budget is allocated toward public safety in the amount of $73.5 million. The second-biggest portion of funding will go toward general administration, which includes expenses such as county employee salaries, benefits and more.
The proposed budget was released to the public on the county’s website Sept. 9. The county will consider this budget for adoption at a Sept. 16 meeting. At this meeting, the county will also be voting on an official tax rate for FY 2019-20.
In August, the county proposed a tax rate of $0.174951 per $100 taxable value for FY 2019-20. This is a slight decrease from the current tax rate of $0.180785 per $100 taxable value.
According to the county’s budget packet, the average taxable homestead value has increased by $11,618. Based on the proposed tax rate, the average Collin County household will pay $622.69 in property taxes to the county in FY 2019-20.
In addition to lowering the current tax rate for the upcoming fiscal year, the proposed budget is also projected to maintain the same tax rate through FY 2023-24, according to the packet.
The FY 2019-20 begins Oct. 1 and ends Sept. 30, 2020.
Below is an interactive chart of the planned funding to different county function areas, according to the proposed FY 2019-20 general fund budget.
Editor’s note: The original post has been edited to correct an error. The percentage increase to Collin County’s fiscal year 2020 general fund budget is 6% and FY 2020 will end Sept. 30, 2020.