Consideration of an Ordinance to ratify the property tax revenue in the 2026-27 Budget as a result of the City receiving more revenues from property taxes in the 2026-27 Budget than in the previous fiscal year; and providing an effective date. (The first Public Hearing was held on August 24, 2026. The second Public Hearing is being held on September 14, 2026, prior to the adoption of this Ordinance.) Effective September 1, 2025, in accordance with Texas Government Code Section 551.043(c), t

Staff Report & Agenda Item Details

Consideration of an Ordinance to ratify the property tax revenue in the 2026-27 Budget as a result of the City receiving more revenues from property taxes in the 2026-27 Budget than in the previous fiscal year; and providing an effective date. (The first Public Hearing was held on August 24, 2026. The second Public Hearing is being held on September 14, 2026, prior to the adoption of this Ordinance.) Effective September 1, 2025, in accordance with Texas Government Code Section 551.043(c), the City of Plano Proposed Budget for Fiscal Year 2026-27 is posted at www.plano.gov and the Taxpayer Impact Statement for a Median-Valued Homestead tax bill comparison is posted as follows: MEDIAN-VALUED HOMESTEAD: $452,109 FY2025-26 (Tax Yr 2025) Estimated property tax bill at the current tax rate of $0.43760 (per $100): $1,978 MEDIAN-VALUED HOMESTEAD: $464,574 FY2026-27 (Tax Yr 2026) Estimated property tax bill at the proposed tax rate of $0.43760 (per $100): $2,033 FY2026-27 (Tax Yr 2026) Estimated property tax bill at the No New Revenue tax rate of $0.43322 (per $100): $2,013