A unanimous decision by Dallas City Council to adopt the budget for Fiscal Year 2024/25, along with property tax rate changes, has come into effect as of this month and will run through the last of September 2025.
Highlights of the budget include increasing funds for public safety and decreasing the property tax rate. The Dallas Police Department budget in combination with the Dallas Fire Rescue will receive an increase of $78m. Also, property tax will be reduced from its current 73.57 cents per $100 valuation to 70.47 cents, and the property tax exemption available to those with disabilities and those who are 65 years or older will be raised from $139,400 to $153,400.
Frequently, municipalities engage printing services to inform the public of how their money is being spent.
The new budget also includes an incentive program for retaining police officers as well as the hiring of 250 police recruits, four single function paramedics to improve response to medical calls, and an additional 63 firefighters. Also covered is the continuation of the city’s partnership with the R.E.A.L. Time Rehousing program for the reduction of unsheltered homelessness, and an investment of $129.5 million for street maintenance and improvement.
In order to ensure the fiscal viability of the city’s police and fire pension funds, council increased contributions by the city in the amount of $11.2bn over the next 30 years to eliminate a $4bn shortfall.
