Plano brought in $727 million in new growth this past year, budget director says

Plano Star Courier
By Winston Henvey / Star Local Media
August 3, 2023

The Plano City Council met July 26 to hold a public hearing for its proposed 2023-24 budget.

Budget Director Karen Rhodes-Whitley told council that the city is expected to have an $806 million budget, with taxes bringing in $356 million and charges for services – predominantly water and sewer – bringing in $270 million.

Expenditures are expected to total around $729 million, with public safety coming to $186 million and water and sewer treatment coming to $149 million.

Additionally, Rhodes-Whitley said the city has allocated $11.4 million to economic development incentives, $12 million for 12 new public safety positions and $1.4 million for new books at Plano’s libraries.

Capital Improvement costs are proposed to be $339.8 million, with street improvements projected to cost around $104 million and parks and recreation projects projected to cost around $61.5 million. Water and sewer improvements in Plano are projected to cost $42.7 million in the capital improvement projects fund.

Throughout the city of Plano, property values have been estimated at a total $4 billion value. This past year, Plano brought $727 million in new growth, Rhodes-Whitley said.

Rhodes-Whitley said while the federal government has projected a decrease in inflation, the city is still experiencing inflated costs. A combination of higher operation costs and new mandates from the federal and state governments has led to the city proposing keeping its 41.76₵ cents per $100 valuation tax rate. This will result in a total average $144 increase to residents’ tax bill to the city due to property value increases, Rhodes Whitley said. Other proposed options include a 38.657 cents per $100 valuation tax rate resulting in no new revenue, or a voter-approved 40.6 cents per $100 valuation tax rate.

City Council will continue budget discussions Aug. 14 and will consider adopting its new tax rate Sept. 11.