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City Council Looks to Lower Tax Rate for FY 2019-2020

The Tax Rate: A Day in the Life of Aa Coppellian InfographicThe City of Coppell continues to see positive economic indicators in all areas of finance, including the recently reaffirmed AAA bond rating, growth in the tax base and surging sales tax receipts primarily due to the thriving distribution and business parks. Expenditures, revenues and reserves have been managed efficiently and proactively for many years, resulting in appropriate fund balances and a strong financial position. Responsible debt management will allow the City to pay off the majority of current debt within 10 years, resulting in increased capacity to issue additional debt in the future for major infrastructure projects.

"We are in a very strong financial position," said City Manager Mike Land. "As a result, we were able to prepare a sound, conservative budget for the 2018-2019 fiscal year. The proposed budget includes a recommended one cent decrease in the property tax rate over last year's rate, bringing the proposed rate to $0.5695. City Council has decreased the tax rate more than twelvecents since 2012 while maintaining the city's infrastructure and providing a high level of service, beautiful facilities and unique amenities for the community to enjoy, and we were able to bring the rate down again this year." 

In September, the Coppell City Council will consider an approximately $131.4 million total budget that will be used to fund numerous projects and services, including the addition of a School Resource Officer, reconstruction of Freeport Parkway, the Advanced Water Meter project, the construction of the Arts Center, ADA improvements to infrastructure and facilities and the reconstruction of Parkway Boulevard. The proposedbudget is based on a $0.5695 tax rate and isaccommodated by rising values and strong sales tax revenues, the majority of which are collected from non-Coppell residents that commute to the City for work and from business to business transactions.According to Dallas County, the total taxable value for the 2018 tax year is $7,590,756,781, an increase of 8.44%over last year. The total taxable value increased $590.67 million, with $89.1 million innew construction. Home values are up 7.29%over the prior year, and the average taxable value for a Coppell home is $384,159. Commercial values are up 8.54%, while Business Personal Property is up 12.98%.

The proposed budget also includes General Fund allocations of $66,339,381. The General Fund budget reflects City Council's awareness and commitment to remaining competitive in attracting and retaining quality employees who are dedicated to serving Coppell residents. Additional funding has been allocated to increase staff accessibility at some facilities in order to help the City be more responsive to customer requests and needs and for the addition of eight of the 16 Firefighters needed to support the opening of Fire Station 4 in Fiscal Year 2019-2020. The addition of the firefighters will allow the Fire Department to continue to meet safe and effective response and service levels associated with recent growth and development, particularly commercial development on the city's west side, while providing a larger number of residents with necessary services and maintaining an ISO Class 1 rating. 

The proposed General Fund budget also includes funding to update outdated exercise equipment at the Senior and Community Center, the addition of pedestrian safety crosswalks, and routine maintenance projects that will help ensure that the community remains safe, walkable and clean.

Coppell Mayor Karen Hunt praised the budget process and staff accountability. "As the Council worked through budget details over the past several weeks, the process verified what we already knew.  The City of Coppell is in a great financial position. City staff continues to do a fantastic job managing our public monies in a very responsible, transparent manner. We are very fortunate to live, work and play in a city that places a high value on community and quality of life while focusing on maintaining what we have built."

The proposed Fiscal Year 2018-2019 budget is now available online for public review.The public is encouraged to attend the Public Hearings regarding the Budget and Tax Rate and provide input:

City Council meets in the Council Chambers at Coppell Town Center, 255 Parkway Boulevard. The meetings will also be aired live on Coppell's Public Access Channel, CITV, channel 32 on Frontier and channel 16 on Time Warner. The video can also be viewed on the City website.

About the City of Coppell Budget:

The City of Coppell continues to see positive economic indicators in all areas of finance, including the recently reaffirmed AAA bond rating, growth in the tax base and surging sales tax receipts primarily due to thriving distribution centers and business parks. Expenditures, revenues, and reserves have been managed efficiently and proactively for many years, resulting in appropriate fund balances and a strong financial position. 

"The City of Coppell is in a great financial position," said Mayor Karen Hunt. "City staff continue to do a fantastic job managing our public monies. We are very fortunate to live, work, and play in a city that places a high value on community and quality of life while focusing on maintaining what we have built."

The City of Coppell works diligently to be fiscally responsible and transparent, and the City continuously receives accolades from outside agencies regarding its financial planning and prudent budgeting practices. The City strongly encourages residents to get involved, attend public meetings and provide feedback on the proposed budget. 

For more information about the FY2018-2019 budget, contact the Finance Department at 972-304-3691 or visit coppelltx.gov/budget.