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Colleyville officials outline proposed 2025–26 budget, say homestead increase will lower many homeowners' bills even as tax rate rises
Summary
City staff presented a proposed fiscal 2025–26 budget and tax-rate calculation that would raise city property tax revenue while increasing the tax rate; officials said the expanded homestead exemption will reduce most residential homeowners’ bills.
Colleyville staff presented a proposed $68 million operating budget and a calculated total property tax rate of 0.311931 during the City Council work session on Aug. 5, 2025, saying the city expects to increase property tax revenue while many homeowners will see a slightly lower tax bill due to an expanded homestead exemption.
City staff summarized the fiscal year proposal, saying the budget would increase property tax revenue by about $850,000 and that the council earlier increased the residential homestead exemption from 7% to 14%. “We had adopted the homestead exemption and increased that from 7% to 14%, so which will provide relief to our residential homeowners,” a staff member said. Staff told council the homestead change lowers the taxable value for qualifying homeowners and therefore can reduce an individual homeowner’s bill even if the nominal tax rate rises.
The nut graf: the city’s proposed total tax rate would be higher than the current year’s rate in order to…
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