Carrollton City Council Adopts Budget and Lowers Tax Rate for FY22
Carrollton City Council voted to adopt the City’s annual budget at Tuesday’s Council meeting while approving a reduced property tax rate for the eighth year in a row. The Fiscal Year 2022 budget, beginning October 1, lowers the property tax rate from $0.5875 last year to $0.5825 per $100 assessed value.
The average homestead market value is $293,910 compared to last year’s average value of $279,576, an increase of 5.13 percent. Based on this rate, taxes on the average homestead with the 20 percent homestead exemption and applicable value caps will be $1,339, a $60 increase from the Fiscal Year 2021 amount of $1,279.
Additionally, the debt service portion of the rate went down and the maintenance and operation portion of the rate went up. This shift in tax rate between categories is part of the City’s overall strategy of managing its outstanding debt and paying for certain capital improvement projects on a pay-as-you-go basis. Taxes used for pay-as-you-go capital improvements are classified as maintenance and operations, regardless of the size of the project.
New solid waste rate changes were adopted at the Tuesday meeting as well resulting in a rate increase for residents from $21.47 per month to $21.75 per month. The City will continue to provide quality solid waste, recycling, bulk waste, and brush collection services through Carrollton’s current solid waste collection provider, Republic Services. For more information on solid waste services in Carrollton, visit cityofcarrollton.com/solidwaste.
For more information on the City’s adopted annual budget and property tax rate, visit cityofcarrollton.com/finance.