The Finance Department is responsible for preparing the City's budget. The Finance Department develops the budget by working with the Mayor, City Council, City Administrator, and department heads to determine the most efficient and effective distribution of funds manner to meet City priorities. The budget is approved and adopted by the City Council. The City's fiscal year runs from October 1 to September 30.
Budget Regulations & Policies
The adopted budget and any adopted amended budgets for any given fiscal year are provided by the Finance Department to ensure transparency in the distribution and use of City funds. Transparency promotes accountability and provides information for citizens so taxpayers can see exactly where their money is going. The Finance Department makes every effort to ensure the documents and other information presented are accurate, reliable, and current. The adopted budget is subject to revisions through proper amendments approved by the City Council during the course of a given fiscal year.
FY 2018-2019 Recommended Budget
Please click here to view the FY 2018-2019 Original Budget. The Recommended Budget was drafted with the 2017 Property Tax Rate of 0.408610. However; after the 2018 certified values were provided and the effective and rollback rates were calculated, Council has proposed removing the annual drainage fee, absorbing drainage expenses under the General Fund, and proposing a tax rate that would maintain revenues.
NOTICE OF 2018 TAX YEAR PROPOSED PROPERTY TAX RATE FOR
CITY OF DICKINSON
A tax rate of $0.455000 per $100 valuation has been proposed by the governing body of City of Dickinson. PROPOSED TAX RATE $0.455000 per $100
PRIOR YEAR'S TAX RATE $0.408610 per $100 EFFECTIVE TAX RATE $0.458033 per $100
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Dickinson from the same properties in both the 2017 tax year and the 2018 tax year.
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:
property tax amount= (rate) x (taxable value of your property)/100 The average home value decreased about 10% from 2017 to 2018. Therefore; in order to collect the same revenue as the previous year, City Council has proposed a tax rate of 0.455 - which is below the effective tax rate. Additionally, City Council has initiated the process to remove the annual drainage fee. Below are examples of this impact to the homeowner.
The Fiscal Year 2017-2018 Budget is calculated based on a tax rate of $0.40861 which is comprised of a Maintenance & Operation (M&O) tax rate of $0.330861 per $100 of assessed valuation and an Interest & Sinking (I&S) tax rate of $0.077749 per $100 of assessed valuation. The proposed tax rate is identical to the current tax rate – $0.40861 per $100 of assessed valuation.
THE CITY OF DICKINSON ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY 6.9 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $26.48.