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Council Approves 2024 Budget and Tax Rate

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September 18, 2023


Following the second round of public hearings at its September 12 meeting, the City Council approved the Fiscal Year (FY) 2024 budget and adopted a tax rate of $0.609822 per $100 of valuation which is the same as the FY 2023 tax rate. Of the total tax rate, $0.450330 is dedicated to maintenance and operations, which is a slight increase from the FY 2023 tax rate for maintenance and operations, and $0.159492 is dedicated to debt service payments. The debt service portion of the tax rate is decreasing despite the issuance of General Obligation Bonds that were approved by voters in the 2019 Bond Election as well as Certificates of Obligation.

Revenues for all funds total $107,910,607, which is an increase of $18.12M compared to the FY 2023 budget. Primary revenue sources are property tax ($36.08 million), sales tax ($15.2 million), hotel occupancy tax ($5.25 million), interest and other income ($13.59 million), and utility service fees ($15.95 million).

The new budget takes effect on October 1 and includes the following significant items:

  • Emergency Management Coordinator 
  • Mental Health Wellness Program for Police Department 
  • Two Fire Administration Vehicles 
  • Building Inspector 3rd party Services 
  • Assistant Director of Development Services
  • Code Enforcement Manager 
  • Code Enforcement Officer
  • Neighborhood Services Startup Funding 
  • Addison Circle Park Vision Plan
  • Pickleball Court Shade Structure 
  • Spruill Dog Park Artificial Turf 
  • Public Art Installation
  • NTTA Pedestrian Crossing, Gateway and Landscape Plan 
  • Recreation Van 
  • Addison Athletic Club Building Improvements 
  • Addison Athletic Club Outdoor Pool Renovation 
  • Street Sweeper and Street Maintenance Worker 
  • Public Works Superintendent 
  • Utility Billing Customer Portal 

The FY 2024 proposed five-year capital improvements budget totals $54.29 million. Significant projects include:

  • Midway Road Reconstruction 
  • Vitruvian West Streetscape and Bella Lane Extension
  • Improvements to Existing Buildings
  • Keller Springs Reconstruction 
  • Les Lacs Pond Improvements
  • Vitruvian Park Phase 6, Block 301, 302, and 303 Improvements
  • Quorum Drive Reconstruction 
  • Montfort Drive Reconstruction
  • Beltway Drive Trail
  • Transit Oriented Development Parking Garage

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