Public hearing for Coppell tax rate, budget set for Aug. 22

Coppell City Council is expected to act on the tax rate and proposed budget at its next meeting.

According to a news release, the proposed tax rate of $0.491818 per $100 valuation will be subject to a public hearing during the Aug. 22 meeting along with the fiscal year 2023-24 budget.

In a nutshell

The rate is broken into a maintenance and operation component—used for general expenditures—of $0.421666 and an interest and sinking component—used to service debt repayment—of $0.070152, according to the proposed budget. The proposed rate was unanimously approved during the Aug. 8 meeting.

Despite a rate decrease from the FY 2022-23 adopted rate of $0.518731 per $100 valuation, the average homeowner’s tax bill is estimated to increase by $68.13. The proposed tax rate is also below the voter-approval rate of $0.568570 per $100 valuation, meaning no tax rate election is required.

A separate city news release shows a total of over $10.6 million in long-term debt issued that is secured using property tax revenue.