The details
A public hearing will be held at the Sept. 8 City Council meeting, which begins at 6 p.m., according to city documents. The proposed property tax rate is $0.54218 per $100 of assessed value, remaining the same as the FY 2024-25 property tax rate.
A majority of the city’s revenue comes from property taxes, franchise fees and sales and business taxes, City Manager Don Magner said. Most of the expenditures go toward personnel salaries, professional services and supplies.
What you need to know
The average Richardson resident is expected to see an increase of about $127 in the city portion of their property tax bill.
Property owners also pay county and school district property taxes as well as hospital and college property taxes, depending on their residence.
Council will hold a public hearing for the FY 2025-26 budget during the Sept. 15 meeting.
