DALLAS - Homeowners in Dallas could see the largest cut to their property tax rate in decades.
As part of the Dallas's new budget, city manager T.C. Broadnax proposed a property tax cut of 2.75 cents per $100 valuation.
If passed, the average Dallas homeowner a $410,000 dollar home would have a property tax bill of $2,123. That is $79 cheaper than under the current rate.
But it's likely homeowners will likely still end up paying more than in the past, because of a rise in home values.
Last year, the average single family home in Dallas was valued at $335,000. Now, the average is $75,000 higher.
Because of the high valuations, the average property owner would still pay $230 more than last year.
"I would encourage everyone to challenge your tax bill because on a consistent basis they are going way higher than they should," said Dallas city councilman Chad West.
The $4.51 billion proposed city budget also provides funding to hire 250 police officers, improve streets and provide funds to tackle the city's homeless problem, among other things.
"I have been unequivocal that the top two priorities for this year’s budget should be public safety and tax relief for our city’s homeowners, renters, and businesses," said Dallas Mayor Eric Johnson in a statement. "I am pleased that the Dallas City Council will now have the opportunity to demonstrate their commitment to these same priorities by investing in making our neighborhoods safer while also delivering the largest single-year tax-rate reduction in modern Dallas history."
Dallas City Council will receive its first public briefing on the proposed budget on Tuesday.
Council members will hold budget town hall meetings this month.