The city of Allen has scheduled two public hearings to allow residents to comment on the proposed budget for FY2020.
Per state law, two public hearings must be held before the rate is adopted. The public hearings will be held during the Aug. 13 and Aug. 27 City Council meetings. All council meetings are at 7 p.m. in the Council Chambers at Allen City Hall, 305 Century Parkway.
The council will adopt the budget and tax rate at its Sept. 10 meeting.
The city proposes $0.498 per $100 valuation tax rate, which exceeds the lower of the effective or rollback tax rate. The effective tax rate is the total needed to raise the same revenue for the city from the same properties in both years. The rollback tax rate is the highest tax rate the city can adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
The rate is unchanged from the last fiscal year; however, a combination of new taxable properties and increased appraisal values will increase the city’s total tax intake by $2,470,372 or 3.63 percent. Of that amount, $2,442,898 can be attributed to new taxable properties, while the remainder is from increased appraisal values of existing property, according to the city.
The proposal states the average single-family home taxable value in Allen is currently $367,638, an increase of $13,103 or 3.70 percent, from the previous year. At a property tax rate of $0.498, the municipal tax paid on the average single-family home will be $1,831, an increase of $65 from the previous year.
The budget plans for the next fiscal year, which begins Oct. 1, 2019, and ends Sept. 20, 2020. The total combined budget revenue added to the city’s beginning fund balance equals $325,938,764 with expenditures coming in at $231,184,023.
According to the proposal, the budget for the coming year focuses on serving Allen’s growing population, necessitating expenditures for general schedule salary increases.
In planning the budget, staff concentrated on the city’s strategic goals for FY2020:
Goal 1 Continue to Enhance community livability and safety
Goal 2 Cultivate regional alliances and partnerships with agencies and governmental units that affect Allen
Goal 3 Signify, enhance and communicate Allen’s identity to the region and the nation
Goal 4 Systematically invest in public infrastructure
Goal 5 Maintain operational excellence in city government services
Goal 6 Provide economic investment that increases employment opportunity, the tax base, and provides desired goods and services for residents and contributes to the community character and identity
Goal 7 Proactively work to protect the environment and conserve water resources
To read the full budget proposal, visit cityofallen.org/documentcenter/view/5398/proposed-budget-document