Dallas City Council Approves Tax Rate Reduction
The Dallas City Council voted unanimously Wednesday to approve the fiscal year 2024-2025 city budget, which reflected the city’s top priorities for next year. The city included focus on public works and public safety as matters of importance.
“I am pleased to support a city budget that includes an historic property tax rate reduction for Dallas residents while prioritizing public safety, investing in parks, focusing on basic city services, and increasing government efficiency,” said Mayor Johnson. “With this data-driven budget, we can begin getting back to basics and building a better future for this great city.”
The fiscal year 2024-25 city budget includes the largest single-year property tax rate reduction in Dallas history, decreasing the tax rate by 3.10¢ to 70.47¢ per $100 valuation – a 4.2% reduction. The budget also includes a property tax exemption for residents age 65 and over or living with a disability from $139,400 to $153,400 for the sixth time since 2017, according to city officials.
The budget puts public safety first by increasing funding for the Dallas Police Department and Dallas Fire and Rescue by $78.6 million. It also includes $202.5 million for the Dallas Police and Fire Pension Fund.
Dallas’ park system will be expanded through this budget with $48 million for park maintenance, including $1 million to operate and maintain new parks, trails, and facilities. The budget also focuses on core city services while making operations more efficient by eliminating redundancies and reducing expenses.
