UP City Council OKs FY 2024 Budget, Tax Rate

The fiscal year 2024 budget and tax rate recently approved by the University Park City Council marks a nearly 4% decrease in the property tax rate from last year and a 7.4% higher total budget than last year.

The fiscal year 2024 tax rate was set at 23.6226 cents per $100 of taxable value. The tax rate adopted as part of the fiscal year 2023 was 24.5975 cents per $100 of taxable value.

The total adopted fiscal year 2024 budget is $65,817,493, with $40,810,416 budgeted for both revenues and expenditures in the general fund, 7.1% higher than last year.

Also of note, the costs of water and wastewater are up $1,390,000 from last year as a result of a 30.8% cost increase from the Dallas County/Park Cities Municipal Utilities District, resulting in a 22% increase in water usage rates and no change in sewer rates. Sanitation fees will also increase by 7.5%. 

The changes approved as part of the fiscal year 2024 budget will go into effect Oct. 1. 

In other news:

• The city council approved a 10-year contract from Axon for $960,572.10 for fleet and body cameras and two drones for the police department.
• The city council approved extending a contract with Huitt Zollars, which was contracted for design services for the Miracle Mile reconstruction project in 2021, also to have Huitt Zollars evaluate the feasibility of a hybrid pedestrian beacon system at the intersection of Lomo Alto Drive and Lovers Lane.
• The city council approved a $58,500 contract with Dunaway and Associates for consulting services for a Goar Park master plan and pavilion concept study. Groundbreaking at Goar Park is expected in April 2024 as part of the city’s centennial celebration, with construction expected to start in July 2024 and finish in late fall of 2024.
• The city council approved adding Juneteenth as a city-observed holiday, joining 67 of 128 Texas cities, including Dallas, the Colony, and Coppell.