Grand Prairie Mayor Has Huge Objectives
GRAND PRAIRIE – A current letter to Grand Prairie residents from Mayor Ron Jensen proposed some objectives for the brand new fiscal 12 months.
The primary one was to make it the primary time in 20 years to drop the tax fee within the metropolis. The second purpose was to lift homestead exemptions when attainable, a 3rd to teach residents about tax funds and a fourth to remind residents of the extent of service offered by town.
“As we enter the funds season, I’ve requested for us to discover a method to decrease town’s property tax fee, even when just a bit bit, which might be the primary time in 20 years,” mentioned Mayor Jensen. “I really feel you will need to present residents we’re listening to and care about what they are saying. We all know that there are a lot of residents who see their property tax invoice improve as a result of the worth of their house is growing. This proposed property tax discount is a method of exhibiting that we hear you.”
With many cities actually feeling the hit from the pandemic, Grand Prairie appears to be in a singular place to have the ability to decrease taxes.
Delivering a Balanced Price range
Jensen mentioned “We all the time funds conservatively, which helped. Town’s tax base is diversified, and never overly dependent upon one phase resembling retail. Federal and state cash offered as a result of pandemic helped. That mentioned, we did expertise lack of revenues, however we minimize bills within the early months of COVID 2020. We additionally performed enterprise just about and noticed will increase in constructing permits, landfill use, and stored different income turbines open at the very least partially in accordance with present laws throughout 2020.”
Town is within the early phases of the funds course of and haven’t made all selections but concerning funds cuts, property tax lower or homestead exemption modifications.
Jensen mentioned town will ship a balanced funds that doesn’t have an effect on the Metropolis companies at present offered.
Relating to the homestead exemption purpose Jensen defined ,“I’m not trying to elevate the homestead exemption the identical 12 months as we decrease the property tax fee. We’ve elevated the homestead and senior exemptions in current previous years as a result of it has a larger impact on a resident’s tax invoice.”
Grand Prairie Homestead Exemption Elevated In 2020
It was simply final 12 months Grand Prairie increased the homestead exemption from 7.5 p.c to 10 p.c.
“If you happen to personal your house on January 1 and it’s your major residence, the larger of 10 p.c of the appraised worth or $5,000 is exempt from metropolis property taxes,” Jensen defined. “Based mostly on a mean Grand Prairie residence worth of $167,000, which incorporates the homestead exemption, town’s portion of your property tax invoice is simply $94 a month or $1,128 yearly. As of late, most households pay greater than that for cable TV or web.”
As well as, if a resident is age 65 on January a further $45,000 exemption on the worth of their property could also be utilized for on the appraisal district, and town portion of the tax invoice freezes, by no means to be greater than it’s at that time.
Jensen mentioned he’s not proposing modifications to that in fiscal 2021-2022, however would need town to have a look at it and the homestead exemption in future years.
Grand Prairie ISD Makes Up 56% Of Property Taxes
“You will need to understand that town portion of your property tax is simply about 22 p.c of your whole property tax,” he added. “Within the Dallas County portion of Grand Prairie, the rest are GPISD: 56 p.c; Dallas Hospital District: 10 p.c; Dallas Neighborhood School District: 4 p.c and Dallas County eight p.c.”
Grand Prairie’s property tax rate has not elevated prior to now 29 years. The final improve was in 1992. The property tax fee was lowered in 1997 and 2000.
“It’s an thrilling time to be in Grand Prairie,” Jensen concluded. “With the path offered by the Metropolis Council, new and thrilling developments have come to our metropolis prior to now few years like IKEA, Residing Areas, Main Event, Rooster N Pickle. Over this subsequent 12 months, we anticipate to see continued progress in our retail, company and industrial sectors. All of this new progress means extra sales tax revenue, which lowers the reliance on property tax income to help metropolis companies and will increase job creation. As we develop our upcoming metropolis funds, we’ll proceed with our conservative funds technique. The Metropolis Council is dedicated to delivering all our necessary companies at a terrific worth.”