City officials are looking to spend almost $5 billion in taxpayer money next fiscal year, according to a proposed budget floated by interim City Manager Kimberly Tolbert.
As previously reported by The Dallas Express, the Dallas City Council adopted one of the biggest budgets in the municipality’s history last year, totaling roughly $4.6 billion.
Now it appears the big spenders at City Hall want to try to outdo themselves.
Here’s some of what Candy’sDirt reported on the proposed City spending for fiscal year 2024:
The City of Dallas dropped its proposed 2024-25 budget Friday night, and it’s a big one.
The $4.97 billion budget prioritizes public safety and service delivery, Interim City Manager Kimberly Bizor Tolbert said in an email to local media Friday night.
Tolbert also is proposing the largest single-year property tax reduction in modern history, a decrease from 73.57 cents to 70.47 cents per $100 assessed. valuation.
The 3.10-cent tax rate reduction in Fiscal Year 2024-25 resulted in $65.6 million in revenue foregone, Tolbert’s press release states. Additionally, for the sixth time since 2017, Dallas has increased the property tax exemption for residents who are age 65 and over or living with a disability, from $139,400 to $153,400.
A note at the front of the budget document explains that the FY 2024-25 budget “will raise more revenue from property taxes than last year’s budget by an amount of $15,856,462, which is a 1.16 percent increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $35,687,522.”
Tolbert said that city officials embarked on a comprehensive review of expenditures in preparation for the proposed budget.