PLANO (CBSDFW.COM) – For the first time in years, Plano’s budget director will report growth in income.
Like nearly every other North Texas city, Plano has spent years watching revenue from tax appraisal shrink. But Monday night city budget director Karen Rhodes will tell the council about a turn around.
“We have that, overall, property values will increase approximately one-percent,” she said.
Another positive economic sign for the city is that projections have sales taxes, which have been frozen, expected to increase.
“Several years ago we kept our projections at $57 million and it looks like we possibly will end up collecting more than $60 million,” said Rhodes. “We’re finally seeing a glimmer of hope in our recovery of our financial resources.”
As it stands the Appraisal District is reporting a 1-percent increase in property values and while that’s not huge it’s not a loss either.
The steady or increased projections also mean no cuts will be proposed.
Rhodes said, “The forecast I’m delivering tonight keeps all the services, the service levels, exactly the same as we’ve had the last couple of years.”
Plano leaders expect positive fiscal trend to continue over the next three years.
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