For the past four years, Wylie’s elected officials have funded city spending without raising residents’ property taxes, and they are on track to do it again this year.
“I am excited to provide an update on the 2022-2023 Budget and Tax Rate,” said Wylie Mayor Matthew Porter on Facebook this week:
We are looking at a reduction of 8.1 cents in the tax rate! This proposed rate would be the no new revenue rate—the rate at which the city receives no new tax money from existing property.
Instead, we would rely on our growth to provide us with the funds to continue to fund new positions in public safety, expand services and take care of our staff to ensure that the citizens of Wylie continue to receive services at the high quality they deserve.
The no-new-revenue rate, formerly called the effective tax rate, is calculated to offset rising property values so the average homeowners’ property tax bills stay roughly the same from year to year.
Any property tax rate higher than the no-new-revenue rate is a tax increase.
Wylie first adopted an effective tax rate in 2018, the year Porter was first elected to city council, after he and fellow council members Jeff Forrester and Timothy Wallis blocked a proposed property tax increase.
The four council members who backed the tax increase are no longer in office.
Local voters have replaced them with representatives who spend responsibly, keeping property taxes in check.
Wylie officials budgeted based on the no-new-revenue rate in 2019 and 2021, and set a rate below the NNR in 2020.
The city’s proposed budget for the upcoming fiscal year is set to be published on Thursday.
During the next city council meeting on August 9, members will discuss a final tax rate based on the county appraisal district’s certified tax rolls.
The August 23 city council meeting will include a public hearing on the tax rate, and council members will vote to adopt the tax rate and budget.
All meetings are open to the public.
Wylie residents can contact city council members with comments or questions.
Other cities across Texas are also in the process of setting budgets and property tax rates. Citizens are encouraged to contact their local officials and attend public hearings.