Council Adopts Fiscal Year 2025 Budget

Published on September 10, 2024

Following a second public hearing at its September 10 meeting, the City Council approved the Town of Addison’s Annual Budget for Fiscal Year (FY) 2025 and approved a tax rate of $0.609822 per $100 of valuation which is the same as the FY 2023 and 2024 tax rate.

Of the total tax rate, $0.439822 is dedicated to maintenance and operations, which is a decrease of over one cent from the Fiscal Year 2024 tax rate for maintenance and operations, and $0.170000 is dedicated to debt service payments. The debt service portion of the tax rate is increasing due to the issuance of Certificates of Obligations and loans from the State Infrastructure Bank which are replacing funding that was approved by voters in the 2019 Bond Election at a lower borrowing cost.

The new budget takes effect on October 1 and includes the following significant items:

• $138,409 for a Theatre Manager position as recommended by the Theatre vision study - 1.0 Full Time Equivalent position
• $175,000 for Kellway Pump Station Maintenance
• $163,375 for a Construction Inspector – 1.0 Full Time Equivalent Position
• $110,000 for Airport GIS Contractual Services
• $196,000 for Parks Planned Asset Replacement
• $30,000 for mental health screenings for Fire Department
• $100,000 for Neighborhood Vitality Grant Funding
• $156,000 for Local Trail Connection and Park Schematic Design
• $248,000 for Wayfinding Signage Master Plan

The FY 2025 proposed capital improvements budget totals $51.02 million. Significant projects include:

• Vitruvian West Streetscape and Bella Lane Extension ($0.90 million)
• Keller Springs Reconstruction ($8.00 million)
• Les Lacs Pond Improvements ($4.38 million)
• Vitruvian Park Phase 6, Block 301, 302, and 303 Improvements ($1.90 million)
• Quorum Drive Reconstruction ($10.00 million)
• Monfort Drive Reconstruction ($4.19 million)
• Beltway Drive Trail ($1.70 million)
• Airport Road Reconstruction ($3.40 million)
• North Texas Emergency Communications (NTECC) Facility ($0.20 million)
• AAC Outdoor Pool Restrooms/Perimeter Fence Renovations ($0.60 million)
• Westgrove & Quorum Bicycle Lanes and Airport Viewing Area ($0.56 million)
• Police and Courts Facility ($3.50 million)
• Service Center Lobby Renovations ($0.23 million)
• Arapaho Road/Surveyor Boulevard and Systemwide Traffic Signal Improvements ($0.22 million)
• Conference Center Renovations ($1.50 million)
• AMI Water Meter Modernization ($3.15 million)
• Reconstruction of Jimmy Doolittle Drive ($1.00 million),
• Eastside Airport Service Road Reconstruction ($1.49 million)
• Airport Fuel Storage Expansion ($3.37 million)