The Coppell City Council approved on Tuesday a proposed tax rate of $0.58400 per $100 valuation, a 2.55-percent increase from last year.
“The foresight and the long-term planning the council has done for years has allowed us to be flexible in our tax rates,” said Mayor Karen Hunt. “This year is different. This year we continue to look forward, but it’s a new forward for us.”
According to city officials, the average taxable home value has increased to $397,335, and the average home owner is projected to pay $2,320.44 in property taxes.
Hunt said the council had a plan in place for the next two years, but recent laws from the latest legislative session, such as House Bill 2, has changed that plan.
The State Legislature has capped municipal property tax revenues at 3.5 percent annually, beginning with the fiscal year 2021 budget. The cap has led the council to be conservative with the budget to keep up with its increased expenses.
The city has some notable purchases coming up this year including three fire engines, technology infrastructure upgrades, replacement of assorted parks maintenance equipment as well as the hiring of eight additional firefighters to staff Coppell’s newest and fourth fire station, which is set to open in 2020.
A public hearing will be held on the proposed tax rate and budget at 7 p.m. on Aug. 27 and at 6 p.m. on Sept. 3. The council is set to adopt the final budget on Sept. 10.
Hunt said the publishing of the proposed rate will give the council time to look forward and to do the things it believes residents want the city to do in its budget.
“There are a lot of things that are built into this budget that we are excited to talk more about,” she said.