Plano Showing Signs of Healthy Future Budget

Tax revenue indicators so far in 2013 may mean the city has more money to spend

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    NEWSLETTERS

    The City of Plano is making plans for improvements after city planners realized the city budget had more money than previously thought. (Published Wednesday, Jul 24, 2013)

    On Wednesday evening, Plano city council and city leaders began their first look at the 2013-2014 budget proposal.

    Based on an economic analysis presented earlier in the week, the city could have more funds to work with than previous, leaner years.

    The city reports its general fund revenue, up to June 2013, is showing healthy gains, specifically in property taxes and some sales taxes in comparison to the year before.

    A booming real estate market in the greater Dallas-Fort Worth area has contributed to rising property values and a subsequent increase in revenues.

    City numbers also show strong gains in taxable business-to-business sales.

    "It's a double-edged sword," said Plano resident Clayton Burk, "It's good and bad at the same time." Burk is concerned about possible real estate price inflation and the possible effect that could have on property assessments.

    In the past, Plano leaders have stated the need to upgrade certain parks and recreation facilities, as well as complete road projects, projects that were stalled during times of budget cuts.

    The final budget itself will not be presented for approval until early September.