Public Invited to Final Hearings on Proposed FY 2024-2025 Property Tax Rate, Budget
Written by Post Public Information Representative, Sep 17, 2024, 0 Comments
Courtesy Xochitl Mora,
Third year in a row City of McAllen lowers property tax rate; Proposed $652 million budget includes infrastructure, economic development and quality of life projects
(McAllen, Texas)-The City of McAllen will hold final public hearings on the proposed Fiscal Year 2024-2025 property tax rate and budget at the next McAllen City Commission meeting on Monday, September 23, 2024, starting at 5:00 p.m. at McAllen City Hall, Commission Chamber, 1300 W. Houston Ave., third floor. Residents are invited to attend the public hearings for both items.
Once again, the McAllen City Commission worked closely with staff to develop the proposed $652 million budget that includes a significant decrease in the property tax rate for McAllen taxpayers. The proposed recommendation lowers the property tax rate from $0.457285 per $100 valuation to $0.449989 per $100 valuation. This will be the third consecutive year that the City of McAllen City Commission has lowered the property tax rate.
Mayor Villalobos expressed his pleasure at the recommendations included in the budget, especially, that it included a property tax decrease for taxpayers.
“As we enter the final stages of approving the Fiscal Year 2024-2025 budget, I am proud to say that McAllen remains committed to fiscal responsibility while continuing to invest in the future of our city,” said Mayor Villalobos.
“For the third year in a row, we are lowering the property tax rate, easing the burden on our taxpayers while ensuring that we fund critical infrastructure, economic development, and quality of life projects that will benefit all residents. This budget reflects our dedication to building a stronger, more resilient McAllen.”
Highlights of the $652 million dollar budget include over $253 million in capital improvements that include infrastructure and development projects, containing funding for construction of the Quinta Mazatlán Center for Urban Ecology; sustaining the current municipal workforce; and maintaining the city’s first-class quality of life.
Funding for the expansion of cargo facilities at the Anzalduas Port of Entry, to help the bridge turn into a full commercial international crossing is also in the budget.
Other proposed expenditures for the budget include $29 million dollars for general government; almost $79 million dollars for public safety; $15 million dollars for highway and streets; approximately $4 million dollars for health & welfare; and $26 million dollars for culture and recreation.
Property taxes represent 34% of the general fund revenues, while sales tax represent 43%. In fact, McAllen has one of the lowest property tax rates in the Rio Grande Valley because of its sales tax. The other 23% for the general fund revenues come from other fees.
