FISCAL YEAR (FY) 2024-2025 RECOMMENDED BUDGET
According to the Collin Central Appraisal District, the market value of the average house in Plano is up 2.7% from last year. We offer the maximum homestead exemption and a senior tax freeze. Plano maintains one of the lowest tax rates and average utility bill among neighboring cities. Preserving and improving City infrastructure is a priority. Your tax dollars maintain and enhance Plano roads, parks and public facilities. The Community Investment Program includes $317 million of projects during FY 2024-25. $149.4 million is earmarked for street projects, including replacement and repairs to existing streets, sidewalks and screening walls; adding turn lanes at intersections; and improving Plano’s traffic signals. Some major Parks and Recreation projects include beginning renovations at the Tom Muehlenbeck Recreation Center, replacing the 40-year-old Schell Maintenance Facility and improving Enfield Park. Facility projects include Fire Stations 5 and 8, Senator Florence Shapiro Council Chambers and a city-vehicle fueling station.
In Plano, every dollar counts. Earlier this year, the financial forecast prompted the City of Plano to implement the budget contingency plan. This was due to flattening revenues resulting from functional build-out. Plano’s future growth looks different than previous decades. Balancing revenue expectations with expenditures will ensure programs and services continue to thrive. Plano remains the best value of any City in DFW. This is our commitment as the City of Excellence. The 2024-25 Recommend Budget continues to balance the same five goals as last year.
QUALITY INFRASTRUCTURE
People are at the heart of our city. Team Plano members are proud to serve our community. We invest in our personnel through competitive compensation and growth opportunities. This year’s budget includes step increases for public safety positions, funding for a one-time lump sum payment of $1,000 to each full-time employee and one new position. financial policies, maintaining reserves, paying cash for maintenance items and fully funding enterprise funds through fees. These policies help the City consistently achieve a AAA Bond rating, saving interest costs. They also ensure our ability to weather economic cycles without dramatically impacting service levels for our citizens and businesses. Financial stability is key to our city's success. Our balanced budget incorporates sound
FINANCIAL POLICIES
AFFORDABILITY
PEOPLE
EVERY DOLLAR COUNTS IN MAKING PLANO A GREAT PLACE TO LIVE, WORK AND PLAY. THE CITY REMAINS DEDICATED TO BALANCING FINANCIAL GOALS WITH FINANCIAL REALITIES.
We provide high-value programs and services while continually looking for innovation and efficiencies in City services. Plano’s award-winning departments are recognized for best practices.
For additional information regarding the Fiscal Year 2024-25 Recommended Budget and Community Investment Program, visit Plano.gov/RecommendedBudget. If you have questions or comments, email AskPlano@Plano.gov.
SERVICE DEMANDS/ PROGRAMS
ADDITIONAL INFORMATION
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