The city of Plano is proposing a $549 million budget plan that would lower the city's property tax rate while collecting millions of dollars in additional property tax revenue.

Budget Director Karen Rhodes-Whitley presented a summary of the budget plan to Plano City Council members on Monday, kicking off a three-month review process before the council is scheduled to approve a budget in September for the 2017-2018 fiscal year.

The proposed budget includes a 3.2 percent increase over last year's expenditures and will trim the city tax rate by 1 cent per $100 of appraised property value.

Despite the rate cut, rising property values and newly completed development projects are expected to contribute an additional $18.7 million in total property tax revenue to city coffers, for an 11 percent increase.

Appraisal values for existing properties in Plano rose 9.6 percent this year, with an additional $1.4 billion in properties newly added to the appraisal rolls.

The FY 2017-18 budget would fund the addition of 38 full-time city employee positions, including 22 new public safety employees.