City Council Reviews Fiscal Year 2026-2027 Property Tax Rates

Tax Rate Comparison

The agenda item presents a taxpayer impact statement comparing property tax bills for the current fiscal year against estimates for the upcoming fiscal year. The calculation uses a standard rate applied to $100 of assessed value.

Under the proposed tax rate, the city will apply $0.52649 per $100 of value before reverting to $0.54218 for the no-new revenue scenario.

Median Homestead Values

The median homestead taxable value is listed at $384,647 for the current fiscal year and rises to $392,010 for the upcoming fiscal year.

This valuation increase applies to both the proposed tax rate scenario and the no-new revenue calculation.

Fiscal Year Projections

The estimated tax on a median homestead is projected at $2,085 for the current fiscal year.

For the upcoming fiscal year, the tax bill drops to $2,064 under the proposed rate before rising to $2,125 under the no-new revenue scenario.

References

City Council Meeting (2026-09-14). Retrieved from https://richardsontx.new.swagit.com/videos/400900