Collin County adopts increased budget and decreased tax rate for FY 2020

Collin County adopted its FY 2019-2020 budget and tax rate during a Sept. 16 meeting.

Collin County adopted its FY 2019-2020 budget and tax rate during a Sept. 16 meeting.

Collin County adopted an increased budget and decreased tax rate for fiscal year 2019-2020 during a meeting Sept. 16.

FY 2019-20 begins Oct. 1 and ends Sept. 30, 2020.

Tax rate
At the meeting, the county adopted the official FY 2019-20 tax rate of $0.174951 per $100 taxable value. 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 value of a county homestead has increased by $11,618. Based on the adopted tax rate, a Collin County household of average property value—just around $355,000—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 adopted budget is projected to maintain the same tax rate through FY 2023-24, according to the packet.

Budget
The county also adopted a general fund budget of $221.5 million for FY 2020.

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.

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.
Below is an interactive chart of planned funding for different county function areas in accordance with the proposed FY 2019-20 general fund budget.

By Emily Davis
Emily graduated from Sam Houston State University with a degree in multi-platform journalism and a minor in criminal justice in Spring 2018. During her studies, Emily worked as an editor and reporter at The Houstonian, SHSU's local newspaper. Upon graduation, she began an editorial internship at Community Impact Newspaper in DFW, where she was then hired as Community Impact's first McKinney reporter in August 2018.


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