Frisco's fresh budget has amassed an additional $14 million in resources, maintaining the consistent property tax rate.
Frisco City Budget for the Upcoming Fiscal Year: Key Points
The Frisco City Council has approved a balanced budget of approximately $304.7 million in expenditures for the upcoming fiscal year. The budget includes funds for 58.5 new full-time positions to maintain city services, with 13 of these positions allocated to the city's police department.
The city budget documents indicate a $14 million increase in property tax revenue for Frisco in the upcoming fiscal year. However, the city council unanimously maintained the city's property tax rate of about $0.43 per $100 of a home's value, which means that homeowners may still see a higher property tax bill due to the increase in their home's value. The Collin County Appraisal District has been confirmed as the tax assessor without comment, and property taxes for individual households are expected to increase by about $70.
In addition to the property tax revenue, the budget also includes an increase in fees for water, sewer, stormwater, and environmental services. However, the city budget documents do not provide specific details about changes in these fees.
The city budget documents do not mention any changes to the city's property tax rate beyond the maintenance mentioned earlier. They also do not provide details about any potential impact on city services due to the increase in property tax revenue, or about the reasons for the increase in property tax revenue.
It's worth noting that home values in Collin County, where Frisco is partially located, are rising. This increase in home values, coupled with the maintenance of the property tax rate, is expected to lead to an increase in property tax bills for homeowners.
The city budget documents do not mention any additional funding for specific city projects or initiatives, nor do they provide details about the total revenue for the upcoming fiscal year. They also do not mention any new partnerships or collaborations with other entities for the upcoming fiscal year.
In summary, the Frisco city budget for the upcoming fiscal year includes funds for new positions, an increase in property tax revenue, and an increase in fees for utilities. However, the city council has maintained the property tax rate, and the budget does not provide specific details about changes in fees, the total revenue, or the potential impact on city services. Homeowners should expect an increase in their property tax bills due to the rise in home values.
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