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After review by City Council and input from residents, the 2009-10 budget was adopted at the Sept. 24 City Council meeting. The budget is structurally balanced and the current tax rate of 54.06 cents is maintained. It focuses on the City Council’s eight key focus areas and 10 goals established by the city’s Strategic Plan.
Existing services and rates for water, sewer, drainage and sanitation. Despite the impact of the national recession, Irving’s financial condition has remained strong. The city, though, has not been immune to these economic impacts and has experienced $7 million in revenue losses from property and sales tax collections. The existing property tax rate of 54.06 cents is the second lowest among Irving’s benchmark cities. Residential water rates are the lowest among Dallas’ 30 member cities.
During the past three years, city staff has saved $12.7 million through ongoing process improvements, which reduces the city’s dependency on property taxes. This cost savings has allowed the city to remain balanced in a down economy. Funding has paid for increased operating costs and additional police and code enforcement officers, corridor improvements, and other key focus areas identified by the City Council and residents through public input opportunities.
New revenues provide dedicated funding streams for new initiatives. Irving has been able to issue new bonds for capital projects—currently, 38 are under construction.
Posted Oct. 1
Contact Information:
Bret Starr, Budget Administrator | (972) 721-3750
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