Dallas proposes significant property tax cut
A 2.75% decrease would be the city’s largest in nearly 40 years
There’s been quite the battle over property taxes in the Lone Star State, but Dallas’ latest budget proposal may have delivered a win for the city’s homeowners.
City Manager T.C. Broadnax is recommending a $4.51 billion budget for the next fiscal year, according to the Dallas Morning News. The spending plan marks a $160 million increase from last year, which was $500 million more than 2020’s adopted budget.
The proposal, released last Friday, includes a 2.75 decrease in the property tax rate— the largest decrease in at least 37 years. This would mean a decrease of around $80 or more for a home valued at $350,000.
However, the budget also calls for increases in rates and fees residents pay for sanitation, storm drainage and water utility services.
Last year, Dallas collected record revenues from sales and property taxes. The two revenue sources currently make up nearly 80 percent of the city’s general fund, financing most of the day-to-day operations of the city.
Broadnax said many of his recommendations stem from homeowners concerned with rising cost-of-living expenses, and homeless populations in parks and near highways. He also said he wanted to address environmental impacts caused by industrial sites in or near communities of color.
There are other targeted initiatives for housing and homelessness within the budget proposal, such as the development and preservation of mixed-income housing through grants and new revenue streams. While Broadnax’s proposal stipulated protections for “unhoused residents during inclement weather,” it would also spend $2.5 million to create a Homeless Action Response Team aimed at clearing out homeless encampments.
The budget also earmarks $157 million for city infrastructure improvements.
The City Council will receive its first public briefing of Broadnax’s spending plan on Tuesday.
— Maddy Sperling