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Richardson residents will be able to provide feedback to City Council on the proposed tax rate and budget for fiscal year 2026-27.
The tax rate public hearing will be held on Sept. 14 and the budget public hearing on Sept. 21.
What you need to know
Richardson city staff proposed a $406 million budget for FY 2026-27 that will maintain the current property tax rate of $0.54218 per $100 of assessed valuation. This tax rate has been in place since fiscal year 2024-25.
The average homestead taxable value increased by 3.16%, so even though the tax rate is remaining the same, residents will see an average increase of $70 on their property tax bill.
The budget also includes a new rate plan for water and wastewater charges, which will increase customers’ monthly volume rate and base charge.
Expenditures in the budget include compensation increases for city employees and added investments in public safety, infrastructure and economic development.
Quote of note
“We’ve got [a budget that] is allowing us to be able to be near the top in compensation in a lot of different categories, and I think it’s a lot that we can be proud of,” Mayor Amir Omar said. “We’ve got more revenue that we can work with this year, not as much as we’d like, but hopefully we’ll do an even better job next year based on all the great economic development work.”
What’s next
City Manager Don Magner is set to file the final budget on Aug. 14. Following the public hearings, council will vote on the tax rate and budget on Sept. 21.
