News Story

At its September 8 meeting, the Addison City Council adopted the Fiscal Year (FY) 2027 Budget and property tax rate. The FY 2027 budget runs from October 1, 2026, through September 30, 2027.

Budget Highlights

The $132.2 million budget prioritizes investments in public safety, employee compensation, pedestrian and street improvements, parks and facilities, and major utility and infrastructure projects. Additionally, the $57.7 million Capital Improvement Plan for FY2027 includes the design and beginning of construction of a new voter-approved Police Facility, and progress on several voter-approved road reconstruction projects such as Quorum Drive, Montfort Drive, Keller Springs Road, and Airport Parkway.

Property Tax Rate

The City Council adopted an FY2027 property tax rate of $0.598100 per $100 of valuation, a one-cent decrease from the FY2026 rate of $0.608100. The General Fund portion of the rate was reduced by one cent, while the portions dedicated to economic development, infrastructure investment, and debt service remain unchanged.

The rate breakdown is as follows:

• $0.391899 – 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 homeowner, the lower property tax rate is expected to reduce the Town portion of the property tax bill by approximately $31 annually, or $2.60 per month. With adopted water and sewer rate adjustments included, the combined impact on the average homeowner is estimated at an increase of approximately 25 cents per month.

The FY2027 budget also continues the Town’s resource maximization efforts. Departments identified approximately $502,800 in recurring savings and additional revenue for FY2027, bringing recurring operating savings identified over the past three years to approximately $1.4 million.

You can watch the City Council’s FY2027 Budget and Property Tax Rate discussion here and read the budget presentation here and tax rate presentation here.