Frisco | October 2022

CITY

New $229M Frisco budget includes department increases, 47 new positions

BUDGET HIGHLIGHTS Frisco’s budget and tax rate for fiscal year 2022-23 was adopted during a September meeting.

NEW POSITIONS The new budget provides for 47 total new positions, with 43 in the general fund.

consecutive year for the city of Frisco’s property tax rate to remain flat 6TH per $100 valuation is the adopted property tax rate $0.4466 12.5% homestead exemption and a senior tax freeze included for homeowners

determined the average market value for a home in Frisco was $639,583, according to its 2022 appraisal roll. A homeowner with property valued at $639,583 would pay about $2,856 in city taxes. A tax rate freeze approved June 21 for homeowners older than age 65 is included in the proposed FY 2022-23 budget along with a senior homestead exemption of $80,000. Council mem- bers also approved an increase in the regular homestead exemption from 10% to 12.5% during the same meeting in June. The changes will be effective for the Jan. 1, 2022, valuations and affect taxes for the FY 2022-23, accord- ing to city documents. The FY 2022-23 budget includes a general fund operating budget of about $229 million, which is about a $15.4 million increase from last year’s projected year-end totals, according to the budget document. Several departments, including the

BY COLBY FARR

Frisco City Council members approved a property tax rate of $0.4466 per $100 valuation on Sept. 20 for the new fiscal year during a Sept. 20 meeting. The fiscal year 2022-23 budget will feature the same property tax rate as the previous five fiscal years, while citywide property valuation is esti- mated to rise about 15.61%, according to the budget document. The tax rate will raise more revenue from property taxes than last year by about $19.7 million with new properties contribut- ing about $7.3 million to that figure. “Our financial services staff delivered a lean budget that maintains quality services for our residents while managing challenges impacting the city’s bottom line, like ongoing supply chain issues and rising product costs,” Mayor Jeff Cheney said in a statement. The Collin Central Appraisal District

43 new positions in the general fund

$2.83M Estimated cost:

• Communications department and city secretary’s office: 2 • Police department: 19 • Fire department: 3 • Human resources: 3 • Administrative services: 5 • IT services: 1 • Library department: 2 • Parks and recreation department: 2 • Engineering services department: 1 • Development services department: 2 • Public works department: 3

$2,100

is the average property tax bill for a home in Frisco, with the city’s homestead exemptions

SOURCE: CITY OF FRISCO/COMMUNITY IMPACT

Frisco Police Department, parks and recreation, and the fire department, will have increased budgets in the next fiscal year, city staff said. Department leaders submitted new programs and staffing needs for the next fiscal year. The city is adding 47 new positions

across several departments, including public safety, parks and recreation, and the public library. Most of the positions are provided in the general fund, but four are coming from two other city budgets. The new budget took effect Oct. 1.

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