Grand Prairie Passes 2017/2018 Budget With No Tax Increase For Residents

Grand Prairie Opens New Fire Station Near Joe Pool Lake
Grand Prairie Fire Station No. 10 will service southern Grand Prairie opened in July 2016.

GRAND PRAIRIE—City Manager Tom Hart couldn’t be prouder of his staff. And he is not alone. Much to the delight of many Grand Prairie residents earlier this month the city council approved a 2017/2018 budget with no proposed tax increases.

Budget Includes Citywide Improvements and Amenities

This is an even greater feat considering the  number of projects  began in the city of Grand Prairie during the current Fiscal Year 2016/2017 budget.

These include the coming of the mega store IKEA. As well as the year round indoor water park, Epic, set to open in December. The adjoining life center will open withing the first quarter of 2018.

On the infrastructure front there is the extension of State Highway 360 to US Highway 287 that will open in the spring of 2018. As well as a 12,000 square-foot fire station.

There are also a bevvy of restaurants, hotels and shopping or entertainment opportunities opening this year.

Opening in 2018 or breaking ground next year, there are six new apartment complexes in Grand Prairie offering 1,000 new units for incoming residents.

Favorable Tax Rating

The City of Grand Prairie already holds the highest rating offered by Standard and Poor’s for General Obligation bonds with a Triple AAA rating. This matches the city’s AAA revenue bond rating.

Hart indicated in a report to council members that in addition to the budget highlights there will also be no tax increase for residents either. The city will continue with its current property tax rate of .669998 per $100 valuation.

This was mostly in part the increase in property values citywide, as well as the influx of new Grand Prairie properties.

The city’s certified taxable value increased by $1.2 billion or 9.77%. New properties account to the tune of $515 million. Of that total the residential property tax accounted for $134 million, commercial at $375 million and business property at $5.2 million.

In the upcoming budget also accounts for full-time and part-time employee salary adjustments.

According to Hart the significant changes to the General Fund included $2,207,770 for the Fiscal Year 2018 Compensation Plan, $704,750 for full-year funding for 13 positions as well as $1,029,658 for 22 positions added mid-year. Also added was a six-month funding at $1,715,408 for an increase in active and retiree health insurance.

Hart concluded that the city of Grand Prairie is committed to offering the best services to the citizens and business community. With the upcoming projects being completed and implemented the new fiscal year for the city is indeed poised for strong economic success.