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‘Richardson is at a crossroads’: City likely to see shortfall in coming years due to statewide property tax cap

Richardson could see a budget shortfall in the next few years due to the statewide cap on property tax increases, City Manager Don Magner warned City Council at the Dec. 15 meeting.

“This is a regionwide, statewide issue that is impacting municipalities and we’re finally seeing the trending of what that looks like,” council member Jennifer Justice said.

Some context: The Texas Property Tax Reform and Transparency Act of 2019, also known as Senate Bill 2, required voter approval for local governments to increase property tax revenue by more than 3.5% a year, effectively capping their property tax revenue.

Zooming in: After six years of the cap in place, Magner estimated that Richardson has experienced a cumulative loss of $21 million in new revenue. By fiscal year 2031-32, Richardson will have a nearly $3 million shortfall, even without adding new programs or services. This will only increase if the Texas Legislature lowers the cap again next year, Magner said.

 
Latest Education News
Plano ISD set to adopt 2027-28 academic calendar in March

Plano ISD staff is preparing for adoption of the district’s 2027-28 academic calendar next month.

PISD Chief Communications Officer Lesley Range-Stanton presented three draft calendars to the district’s board of trustees on Feb. 3.

The specifics: All three proposed calendar options include a fall break for students from Oct. 11-15, 2027, Thanksgiving break from Nov. 22-26, 2027, spring break from March 13-18, 2027 and days off for students on April 14 and 17.

The first two options, drafts 1 and 1B, each have winter break from Dec. 20, 2027-Jan. 3, 2028.

Drafts 1, 1B and 2 each have different last days of school of May 23, 2028, May 24 and May 19, respectively.

 

YOUR WEEKEND TO-DO LIST

Check out these weekend events across the metro area.

To submit your own event, click here!

Grapevine  |  Feb. 6, 2:30 p.m., 3:30 p.m.

Glassblowing workshop

More info

 

McKinney  |  Feb. 6, 7:30 p.m.

Date night comedy

More info

 

Denton  |  Feb. 7, 6-7:30 p.m

Valentine’s watercolor workshop

More info

 

Plano  |  Feb. 7, 6 p.m.

Garth Brooks tribute concert

More info

 

Bartonville  |  Feb. 7, 8:30-11:30 p.m.

Mardi Gras show

More info

 
Latest Education News
Plano ISD to host 2 job fairs in February

Plano ISD is seeking employees for teaching and auxiliary positions with a pair of upcoming job fairs.

What you need to know: The first event, set for Feb. 11 from 4-6 p.m., will be located at the PISD Administration Board Room, 2700 W. 15th St., Plano.

The second event will be located at Academy High School, 1701 Alma Drive, Plano. The event is set for Feb. 21 from 9-11:30 a.m., and will allow prospective educators to meet campus leaders and explore open positions, PISD’s website states.

 
What's Happening at CI
Real estate, networking and prizes: Community Impact's InCIder Hour heading to DFW on Feb. 17

The overview: As Community Impact enters its third decade, it’s returning to its roots of growth and deeper reader connections. The “Patron” program, which began in 2020 by reader demand, has relaunched as InCIder.

“This relaunch represents our renewed commitment to readers who support our local news,” CEO John Garrett said. “Beyond funding great journalism, we also want to reward our InCIders and build deeper connections with them, creating a true sense of community around the work we do.”

Event details: As part of the new program, Community Impact is hosting InCIder Hours across the state, events designed to celebrate and engage the company’s top supporters.

DFW’s first InCIder Hour will take place from 5:30-7 p.m. Feb. 17 at Community Impact’s DFW headquarters, 3803 Parkwood Blvd., Ste. 500, Frisco.

Guests will have the opportunity to network with fellow InCIders, meet Community Impact staff and attend a moderated real estate-focused panel.

Become an InCIder today to get your invite! We’ll see you there.

 

Your local team

Michael Crouchley
Editor

Tracy Ruckel
General Manager

Email [email protected] for story ideas, tips or questions.

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