Show All Answers
For the upcoming budget year, the taxable value of all properties in Irving has declined by $919 million or 5.15 percent. Tax revenues collected at the existing rate of 54.06 cents would result in a decrease in general fund revenues of $6.4 million.
The rate necessary for the city to receive the same amount of revenue from existing properties as in the previous year is called the "effective tax rate." This rate has been calculated by the Dallas Central Appraisal District as 5.12 cents above the current rate or 59.18 cents.
The city's proposed rate of 57.61 cents is well below the effective rate of 59.18 cents, so the city will still collect less revenue than last year. Whether taxes on an individual property go up or down depends on the change in that property's appraisal.
Irving residents enjoy one of the lowest tax rates in the North Texas region. Taxes imposed by the City of Irving are necessary to provide funding for government services and account for only 22 percent of a resident's total tax bill. School taxes are the largest component of the total tax bill at 54 percent, and the remaining 24 percent is assessed by Dallas County, Parkland Hospital District and Dallas County Community College.
In an article featured on The Dallas Morning News website on Aug. 11, 2010, the City of Carrollton reported the results of a study that examined the total cost of all city services, including the tax rate, water and sewer rates, drainage fees, sanitation and recycling rates for Metroplex cities. Of the 19 cities included, Irving was the third lowest, just ahead of Addison and Farmers Branch. When compared against the 10 largest cities in the Metroplex, Irving had the lowest overall cost of service. Individually, Irving has the second lowest tax rate, and has the lowest water and sewer rates among the top 10 cities.