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Mesquite, TX - September 26, 2018 - The Mesquite City Council approved the City’s 2018-19 fiscal year budget on September 4 and property tax rate on September 17. The property tax rate was increased from $0.684 to $0.734 per $100 in property valuation. The rate increase is necessary to finance the second half of the residential street bond program, known as Real. Texas. Roads., approved by voters in November 2015.
The City has not increased the property tax rate for maintenance and operation in 10 years. Of the $7,472,000 in new property tax revenue, $3,499,645 will be used to pay debt service from the residential street bond program. Payment of this debt will ensure the City can issue future bonds to complete the $125 million bond authorization program.
The remaining additional revenue will help fund new public safety positions in both Police and Fire services, enhanced street maintenance, a Residential Solid Waste Rear Loader Tipper Pilot Program and other budget initiatives supported by the City Council.