Addison's Fiscal Year 2022 Budget Begins October 1

Following the second round of public hearings at its September 14 meeting, the City Council approved the Fiscal Year (FY) 2022 budget and adopted a tax rate of $0.614660 per $100 of assessed value, which exceeds the no-new revenue tax rate and will raise the same amount of property tax revenue for the Town from the same properties in both the 2020 tax year and the 2021 tax year. Of the total tax rate, $0.441109 is dedicated to maintenance and operations, which is the same rate as FY 2021 for maintenance and operations, and $0.173551 is dedicated to debt service payments. The debt service portion of the tax rate is increasing as a result of the planned issuance of General Obligation Bonds that were approved by voters in the 2012 and 2019 Bond Elections.

 

You can watch the Council's FY 2022 budget discussion here and read the presentation here. You can watch Council's FY 2022 tax rate discussion here and read the presentation here.