News Story

At its September 1 special meeting, the City Council held the first public hearings on the City Manager’s Proposed Fiscal Year (FY) 2027 Budget and property tax rate. The fiscal year runs from October 1, 2026, through September 30, 2027.

Budget Highlights

The proposed $132.8 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.

For the third consecutive year, departments also identified opportunities to reduce ongoing costs and generate additional revenue. This year’s resource maximization efforts total approximately $502,847 in recurring savings and revenue.

Proposed Property Tax Rate Decreases

The proposed FY2027 property tax rate is $0.598100 per $100 of valuation, a one-cent reduction from the current rate of $0.608100. For the average Addison homeowner, the Town estimates the annual property tax payment will decrease by $31.23. With proposed water and sewer rate adjustments included, the combined average annual increase is estimated at approximately $3.

The City Council will hold a second public hearing on the proposed budget and tax rate at its regular meeting on September 8.

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