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Finance director outlines proposed 2‑cent tax rate cut, revenue stabilization fund and sales‑tax outlook
Summary
Finance Director Tammy Zerman presented the FY 2023‑24 budget framework, including a proposed 2¢ property tax rate reduction to 0.569, creation of a revenue stabilization fund, sales tax projections and use of grants and one‑time funds for capital projects.
Tammy Zerman, Farmers Branch director of finance, presented a budget overview during the July 11 workshop that laid out assumptions, revenue drivers and several policy choices for fiscal year 2023‑24.
Zerman said staff recommends a 2¢ reduction in the property tax rate to a proposed 0.569 per $100 of assessed value. She reviewed the city’s existing exemptions — including a 20% homestead exemption and a $100,000 senior/disabled exemption the city increased last year — and emphasized that school districts and other jurisdictions…
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