Plano City Council approved its $527 million budget for the fiscal year 2016-17 at its Sept. 12 regular meeting. The budget is a $28.6 million increase from last year and includes a one-cent tax decrease, which means Plano now has one of the lowest tax rates in the region.

The property tax decrease of one cent lowers property taxes from 48.86 cents to 47.86 cents per $100 of  valuation. The total assessed property value for FY 2016-17 equals $34.3 billion, including $750.7 million in new property coming online, according to city manager Bruce Glasscock.

“The lowest amount of debt per citizen resides in Plano,” LaRosiliere said.

The budget includes funding for street repairs, improving neighborhoods, parks, libraries, youth amenities and senior centers. The budget also includes the absorption of increased water and sewer rates imposed by the North Texas Municipal Water District, preventing such rate increases to be passed on to residents.

The 2016-17 fiscal year begins. Oct. 1.

The combined budget includes an additional $10.2 million for public safety programs, $1.8 million for community improvement projects, such as expansions at the Senior Recreation Center, Oak Point Park Recreation Center and the development of Windhaven Meadows Park. Approximately $1 million in additional funding will be allocated toward neighborhood reinvestment projects, such as the Great Update Rebate program, which is administered by the Neighborhood Services Department.

City employees will also receive a 3-percent salary increase totaling $5.3 million under the new budget.