Rockwall City Council Marks a Decade of Lower Property Taxes, Adopts Lowest Rate… Again!

ROCKWALL, TX – September 18, 2023 – At their meeting tonight, Monday September 18, the Rockwall City Council voted to adopt a rate below the no new revenue tax rate (formerly known as the effective rate), which continues a decadelong trend to decrease the tax rate for Rockwall residents. The approved tax rate is once again the lowest rate ever adopted in Rockwall’s recorded history—and is 2.22 cents less than the rate last year. Also at the meeting, the Council adopted the budget for fiscal year 2023-2024.

In a series of work sessions and public hearings, the City Council directed staff to prepare a balanced budget based on the no new revenue tax rate, which allows the City to collect the same amount in taxes as the year before, as calculated by formulas prescribed by the state. The new tax rate of 27.0245 cents per $100 of valuation is down from the 29.25 cents adopted for the previous year. The actual change in ad valorem tax for any individual property is also a function of its assessed value.

In this budget, there is nearly $3.4 million allocated to vehicles, personnel, and training for public safety departments. Parks continue to be a draw for residents, and the budget provides for safety and aesthetic upgrades and enhancements in Rockwall parks amenities. The budget calls for additions to the city’s Animal Adoption Center, to provide a continued high quality of life for our furry friends as well. The city is investing in a new sound system to play music throughout Downtown Rockwall to further enhance the experience in the historic district. This budget addresses retention and inflationary concerns for City employees, including those in the Police and Fire Departments. Additionally, there is an increase of 7.7% for street maintenance, as well as existing big street projects.

This year’s budget responds to a continued healthy economy, which is attributed in large part to higher sales tax revenue. “Both residents and visitors are choosing to shop Rockwall businesses, and it makes a huge difference in our local economy,” said Rockwall Mayor Trace Johannesen. “The City of Rockwall works diligently to adopt a balanced budget every year, while lowering taxes—and continuing to invest in public safety, critical infrastructure, and the high-quality services our residents enjoy. This added revenue allows us to do that, without burdening our taxpayers.”

As always, the new budget continues to address important services such as public safety, parks and recreation, and street repair and maintenance. Items addressed in this budget do not pertain to the Street Repair Bond approved by voters in 2018. Several factors combined to enable the city to utilize a rate below the no new revenue rate without making substantial cuts to the budget, including the aforementioned significant increases in sales tax revenue, coupled with the increase in growth-related new value. The City of Rockwall’s new fiscal year begins on October 1, 2023.

Submitted press release

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