Murphy is about 8 miles northeast of Richardson.
City leaders in Murphy are currently working on the proposed budget for Fiscal Year 2026-27. The development of this financial plan relies on preliminary property value estimates provided by local appraisers. Officials are waiting for the final, certified taxable values from the Collin Central Appraisal District, which are anticipated to be available on July 25.
Because the official property valuations have not yet been finalized, several key components of the city’s financial outlook remain fluid. Spending plans, revenue projections, and the eventual property tax rate are all subject to change once the certified data is received.
The preliminary budget document is being constructed using the maximum allowable voter-approval tax rate. This rate is set at 36.39 cents per $100 of taxable value. This figure represents an increase from the current tax rate, which stands at 35.75 cents per $100 of taxable value.
The use of the maximum allowable rate allows the city to propose a budget that does not require a public vote for approval, provided the final certified values do not necessitate a lower rate to maintain the same revenue levels. However, the final adopted budget and tax rate will depend on the official appraisal numbers.