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Council approves tax rate, budget; honors first responders

by | Aug 30, 2023 | Latest, news

American Legion Hale-Combest Post 315 Commander Mary Lange presented awards at the Wylie City Council meeting Tuesday, Aug. 22 From left, Firefighter Jeff Pynes was awarded Texas Firefighter of the Year, Paramedic/EMT Joe Krizan – Paramedic/EMT of the Year and Officer Mark Johnson was awarded Law Enforcement Officer of the Year. Middle row, from left, Legionnaires Mary Lange, Don Bridges, Jack Garner, Charles Davis and Chester Roland. Back row from left:  Legionnaires Mitchell Swan, Larry Heath, Bob Orly and Mayor Matthew Porter. Craig Kelly, City of Wylie Public Information Officer

By Jeremy Hallock

As the city of Wylie nears the end of the current fiscal year, city council met to approve the proposed budget and tax rate for fiscal year 2023-24 (FY24), which begins on Oct. 1, 2023, and ends on Sept. 30, 2024. 

Adopted during the Tuesday Aug. 22 required public hearing with no citizens expressing approval or opposition, the new tax rate for the FY24 budget is $0.538882 applied to each $100 assessed valuation of property in the city. This is well below the voter-approval tax rate of $0.594366 but includes $0.03 above the no new revenue tax rate of $0.508882 to support the debt issues from the 2021 bond program. 

The new rate is 4.17% lower than last year’s adopted rate of $0.562333. But with rising property values in Wylie the tax levy on an average homestead will increase 9.62%, or $180.73.  

The new budget increases the property tax revenue by $3,152,610, or 9.02 percent, from last year. Property tax revenue from new property added to the tax roll this year is $1,145,108.

The general fund summary of the city’s adopted budget has a beginning fund balance of $23,711,703 on Oct. 1, 2023. General fund revenue for the upcoming year is expected to be $55,736,207 compared to $51,744,978 in FY23. General fund expenditures for FY24 are budgeted at $55,736,207 compared to $60,782,978 in FY23. The estimated ending fund balance on Sept. 30, 2024 is $20,860,311.

The agenda also included a public hearing to adopt the federally mandated Americans with Disabilities Act Transition Plan to identify obstacles limiting access to programs, services, and activities by persons with disabilities.

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