Dallas proposes property tax rate cuts for 2024-25
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Dallas wants to lower the property tax rate and spend more money on its police and fire departments in the upcoming fiscal year.
The big picture: The proposed city budget would reduce the property tax rate by 3.1 cents per $100 valuation, from 73.57 cents to 70.47 cents. It would be the largest single-year tax rate reduction in Dallas' modern history, the city says.
- The city would also increase the property tax exemption from $139,400 to $153,400 for residents with a disability or older than 65.
Why it matters: The budget reflects the city's priorities next year, from public works to public safety.
State of play: Dallas is planning a $4.97 billion budget for the next fiscal year, which starts in October.
- The city recently increased the current year's budget by more than $1 billion to $5.7 billion to cover increased convention and event service costs, water utilities and other spending.
Context: The 2024-25 budget aims to cut taxes while staying under this year's spending by merging the departments of public works and transportation and reducing the number of days a week that community pools are open.
- The city also plans to close Skillman Southwestern Branch Library and use some of the savings to get a LibCabinet device that's like a vending machine for books.
Yes, but: The city is also spending in key areas, including increasing the minimum wage for city employees from $18.50 to $19.25 per hour and hiring more police and fire staff.
- Plus, the city plans to spend $124 million on projects that include street and sidewalk improvements.
Between the lines: In Dallas, the city manager usually sets priorities for the annual budget. Interim city manager Kimberly Tolbert is running the office until the city hires former city manager T.C. Broadnax's replacement.
What's next: The city will hold several town hall meetings this month for residents to weigh in on the next budget.