Mansfield plans lower tax rate, higher homestead exemption

The City of Mansfield will hold public hearings before adopting a new lower tax rate and Fiscal Year 2024 budget.

The city will hold public hearings at 7 p.m. Aug. 28 and Sept. 11 at City Hall, 1200 E. Broad St. Community members are invited to learn more about the proposed tax rate and budget and share their feedback.

The Mansfield City Council is proposing lowering the tax rate to 67 cents per $100 of valuation. This rate is lower than the 2022 tax rate of 68 cents per $100. This is in addition to increasing the homestead exemption another 2 percent to 14 percent.

This year’s budget includes funding to replace aging equipment such as police cars, a new fire engine and more. The budget also includes funding for road and infrastructure improvements with projects slated for Cannon Drive South, North Main Street/FM 157 Connection, a water treatment plant expansion and more. The budget also outlines funding for parks projects including the redevelopment of Katherine Rose Park, trail system development and more.

While the state requires one public hearing, the Mansfield City Council has traditionally held two to provide community members with more time to review and provide feedback. After the two public hearings, the council is scheduled to vote on the tax rate and budget Sept. 11 before the new fiscal year begins Oct. 1.

For more information about the proposed tax rate and budget visit MansfieldTexas.gov.

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