Council Approves Fiscal Year 2026 Budget

Published on September 16, 2025

At its September 9 meeting, the Addison City Council adopted the Fiscal Year (FY) 2026 Budget and property tax rate. The FY 2026 budget runs from October 1, 2025, through September 30, 2026.

Budget Highlights

The $118.2 million budget prioritizes investments in public safety compensation, improvements to the Addison Performing Arts Centre, economic development initiatives, Addison Circle paver and tree well rehab, and major infrastructure reinvestments.

The five-year Capital Improvement Plan includes $35.3 million in FY 2026, with major projects such as the reconstruction of Quorum Drive, Montfort Drive, and Keller Springs Road.

Property Tax Rate Rate

The adopted property tax rate for FY 2026 is $0.608100 per $100 of valuation.

The rate breakdown is as follows:

• $0.401899 – Maintenance & Operations (General Fund)
• $0.025000 – Maintenance & Operations (Economic Development)
• $0.006201 – Maintenance & Operations (Infrastructure Investment)
• $0.175000 – Interest & Sinking (Debt)

For the average Addison home valued at $501,878, the new rate would result in an annual tax bill of $3,051.92, about $158.47 more than last year, primarily due to rising property values. Of the total tax rate, $0.433100 is dedicated to maintenance and operations, a decrease from FY 2025, while $0.175000 is dedicated to debt service payments. The increase in debt service reflects loans from the State Infrastructure Bank, which replaced funding from the 2019 Bond Election at a lower borrowing cost.