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The average single-family home in Sachse gained $5,099 in value, which will raise its property tax bill by approximately $37 if City Council approves the tax rate proposed by City Manager Gina Nash and the administrative team.
The home value of the average residence rose 1.8% to $282,249, the city’s proposed budget document said. The proposed tax rate is $0.72, the same as in 2019-2020.
Sachse City Council will hold public hearings on the budget on Sept. 8, after which it is expected to adopt the budget. The new fiscal year begins Oct. 1.
Property values are rising in Dallas and Collin counties, which corresponds with the $99 million in taxable values in the city, a 3.95% increase, Nash said in the budget document. New construction added $73 million to the city’s tax rolls.
Property taxes make up the biggest revenue source for the city’s General Fund, bringing in 64.2% of the total estimated revenue, Nash’s budget report said. The approximately $20.6 million in revenues and budget transfers represents a 5% increase over the previous fiscal year. The combined budget revenue was projected to be $39.6 million.
The next biggest funding source will be sales tax and franchise fees. The projected $3.6 million in revenues is 17.6% of Sachse’s total revenue.
Various sources including licenses and permits, fees and charges, fines, interest income, grants and donations, rent and lease income and intergovernmental transfers combine for 18.2% of the city’s revenue sources.
The nearly $21 million projected for General Fund operating expenditures and budget transfers is 7.3% more than the fiscal year 2019-2020 original budget, the budget document reported. An ending fund balance of more than $10 million will give the city 179 days of operating reserves, much higher than the 25% target.
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