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City Manager T.C. Broadnax will release his proposed biennial budget for FY 2022-23 and FY 2023-24 on Saturday, August 6. This year’s budget focus is Responsible, Equitable, Accountable, and Legitimate (R.E.A.L.) Impact. The City will remain focused on delivering core programs and services while also finding innovative ways to provide those things with greater efficiency, higher effectiveness, and increased transparency.
R.E.A.L. Impact Budget Delivers Tax Relief for Residents
The Fiscal Year 2022-23 total operating and capital budget totals $4.51 billion compared to the total budget for the current year which totals $4.35 billion. Of that total, the General Fund is $1.7 billion, which is $172 million, or 11.2% more than the budget adopted by the City Council last September.
Property taxes account for roughly 56.3% of the General Fund Revenue. This year, residents saw a 15.1 percent growth in property values, an increase that provided the means to propose a reduction to the property tax rate for residents. The property tax rate will be reduced by 2.75¢, from 77.33¢ per $100 valuation to 74.58¢. This will save the typical residential homeowner $70.60 on the City portion of the property tax bill.
Budget Town Hall Meetings
The City is asking for feedback from residents about the proposed budget. Dallas City Council Members will hold Budget Town Hall Meetings in the month of August, in a variety of formats: virtual, Tele-Town Hall, and in-person. The full schedule of meetings and more information about how to participate are available at bit.ly/dallasbudgettownhall
If you plan to attend one of the in-person meetings, please check the event calendar the day of and follow your Council Member’s social media channels for changes or updates.
Budget 101 Animated Videos
As crucial as a city budget is when it comes to providing basic services to residents, it can be a bit intimidating. The terminology, big numbers, and all the charts and graphs can be overwhelming, but it doesn’t have to be. The City produced three short animated videos in English and Spanish that explain the budget in its simplest form. Starting Wednesday, August 4, the videos will be accessible here, including language access and closed caption options: bit.ly/cityofdallastv, YouTube.com/CityOfDallasCityHall or our cable channels. The topics are:
- Budget 101 – Budgeting Basics
- Budget 101 – Where Does The Money Come From
- Budget 101 – Where Does The Money Go?
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