Commissioners expect to set the property tax rate at 19.22 cents per $100 assessed valuation
By Joe Reavis
Collin County commissioners held budget workshops last week to set expenses for fiscal year 2017-’18 at $380.7 million, a figure that includes $38 million for major highway projects that address a growing county population.
“It’s a good budget,” County Judge Keith Self declares.
In reaching the total figure, which is significantly more than the current $329 million budget, the county will pull $40.5 million from reserves earmarked for the highway projects and $2.5 million for cost of living adjustments for retirees.
Other areas of increased spending, outside normal rises in costs, are $2 million more for the sheriff’s department, average raises of three percent plus some catching up from past years for employees, although elected officials will get just a three percent bump.
Commissioners expect to set the property tax rate at 19.22 cents per $100 assessed valuation, a reduction from the 2016 levy of 20.08395 cents. The proposed rate is equal to this year’s effective rate, the levy at which an average tax bill will not see an increase from the prior year. This is the second consecutive year that the court will adopt the effective tax rate.
“We have the lowest county tax rate in the state,” Self pointed out.