Denton County proposes historic budget and tax rate cuts
July 24, 2024 | Denton County, Texas
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In a recent government meeting, Denton County officials presented a comprehensive overview of the county's financial status and budget recommendations for the upcoming fiscal year. The proposed budget for FY 2025 is set at approximately $419 million, reflecting a slight reduction in the tax rate to 0.001479 cents below the current voter approval tax rate.
Key highlights from the meeting included a detailed analysis of the county's employee-to-resident ratio, which currently stands at 1.91 employees per 1,000 residents—a 15% decrease since FY 2026. This positions Denton County among the counties with the lowest employee per capita rates in Texas, trailing only Collin and Tarrant Counties.
The adjusted taxable value for Denton County for tax year 2024 is projected at $162.3 billion, marking a 10% increase from the previous year. New construction is estimated at $8.4 billion, which, while lower than the previous year's $9.2 billion, remains significantly higher than figures from 2015 to 2022. This new construction is expected to generate approximately $15.8 million in tax revenue.
The average home value in Denton County has also seen a notable increase, rising by 9.7% from tax year 2023 to 2024, reaching $492,290. Residents with homes at this average value can expect to pay around $9,393 in taxes, with only 10% allocated to Denton County, while the majority goes to the school district.
Denton County's tax rate remains competitive, currently the second lowest among the top 15 counties in Texas and the seventh lowest out of all 254 counties statewide. This trend of decreasing tax rates has been consistent, with a reduction of approximately 4.5 cents over the past three years.
Officials announced that budget workshops are scheduled for July 30, August 6, and August 13, with the aim of finalizing decisions and proposing a tax rate by mid-August. The budget and tax rate are expected to be adopted in September, ensuring continued fiscal responsibility and stability for Denton County residents.
Key highlights from the meeting included a detailed analysis of the county's employee-to-resident ratio, which currently stands at 1.91 employees per 1,000 residents—a 15% decrease since FY 2026. This positions Denton County among the counties with the lowest employee per capita rates in Texas, trailing only Collin and Tarrant Counties.
The adjusted taxable value for Denton County for tax year 2024 is projected at $162.3 billion, marking a 10% increase from the previous year. New construction is estimated at $8.4 billion, which, while lower than the previous year's $9.2 billion, remains significantly higher than figures from 2015 to 2022. This new construction is expected to generate approximately $15.8 million in tax revenue.
The average home value in Denton County has also seen a notable increase, rising by 9.7% from tax year 2023 to 2024, reaching $492,290. Residents with homes at this average value can expect to pay around $9,393 in taxes, with only 10% allocated to Denton County, while the majority goes to the school district.
Denton County's tax rate remains competitive, currently the second lowest among the top 15 counties in Texas and the seventh lowest out of all 254 counties statewide. This trend of decreasing tax rates has been consistent, with a reduction of approximately 4.5 cents over the past three years.
Officials announced that budget workshops are scheduled for July 30, August 6, and August 13, with the aim of finalizing decisions and proposing a tax rate by mid-August. The budget and tax rate are expected to be adopted in September, ensuring continued fiscal responsibility and stability for Denton County residents.
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