City of Dallas Releases Proposed Budget for FY 2023-24 and FY 2024-25
City Manager T.C. Broadnax releases his proposed biennial budget for FY 2023-24 and FY 2024-25 on Friday, August 4. This year’s budget focus is Responsible, Equitable, Accountable, and Legitimate (R.E.A.L.) Engagement. This budget is designed to reflect the priorities and values of our community with resident feedback and engagement playing a vital role in determining budget priorities.
R.E.A.L. Engagement Budget Delivers Tax Relief for Residents
The Fiscal Year 2023-24 operating and capital budget is $4.63 billion compared to the total budget for the current year which is $4.51 billion. Of that total, the General Fund is $1.8 billion, which is $137.8 million, or 8.1 percent more than the budget adopted by the City Council last September.
Property taxes account for roughly 57 percent of the General Fund Revenue. With continued growth in property values, this budget includes a property tax rate reduction for the eighth year in a row by 0.65¢. This will lower the property tax rate from 74.58¢ to 73.93¢ per $100 valuation.
Budget Town Hall Meetings
The City is asking for feedback from residents about the proposed budget. Dallas City Council Members will hold Budget Town Hall Meetings in the month of August, in a variety of formats: virtual, Tele-Town Hall, and in-person. The full schedule of meetings and more information about how to participate are available at bit.ly/dallasbudgettownhall
If you plan to attend one of the in-person meetings, please check the event calendar the day of and follow your Council Member’s social media channels for changes or updates.
Budget 101 Animated Videos
As crucial as a city budget is when it comes to providing basic services to residents, it can be a bit intimidating. The terminology, big numbers, and all the charts and graphs can be overwhelming, but it doesn’t have to be. The City produced three short animated videos in English and Spanish that explain the budget in its simplest form. The videos will be accessible including closed caption options at YouTube.com/CityOfDallasCityHall. The topics are: