Richardson’s proposed budget allocates additional funding to street maintenance while maintaining the same property tax rate.

Based on documents published by the city, the proposed budget has revenues of nearly $381.46 million and expenditures of a little more than $399 million, which creates around a $17.54 million deficit for the upcoming fiscal year. However, city officials expect that to be offset by the timing of federal grant funding, certain expenditures and previously set aside funds

The big picture

In preparing this year’s budget, City Manager Don Magner said there were three areas of focus: infrastructure, public safety, and recruitment and retention. To help fill vacancies and retain current talent, he has included a 6% compensation increase for all city employees, according to previous reporting by Community Impact.

“The focus on people is foremost,” Magner said. “The council has been extremely supportive of the things I want to implement to recruit and retain talent in one of the most robust and competitive economies.”

The tax rate is proposed to be the same as last year at $0.56095 per $100 valuation, encompassing both the $0.34316 maintenance and operations rate, which includes general spending, and the $0.21779 interest and sinking rate, which includes debt servicing, based on Magner’s recommendation during an Aug. 7 meeting. With the same tax rate, the average homeowner’s tax bill will increase by $141 due to property value increases.

In addition to a likely property tax bill increase, residents will also deal with other increases:
  • $29 annual increase for water service for 8,000 gallons per month usage between October and May and 18,000 gallons per month between June and September
  • $14 wastewater bill increase based on 98% of water usage
  • $12 annual increase for solid waste to be paid with a flat $1 monthly bill increase
To address infrastructure, the proposed budget allocates over $7.69 million for street maintenance and rehabilitation, which represents a nearly $1.2 million increase from the previous year.

What’s next?

Magner will present his final budget proposal during the Aug. 14 meeting with a public hearing and adoption set to take place during the Aug. 28 meeting. A public hearing on the tax rate is scheduled during the Aug, 21 meeting.

Editors note: This article has been updated to add context to the proposed budget's expenditures and revenues.