SEPTEMBER 17TH, 2024
APPROVED TAX RATE
The City Council has approved a tax rate of $0.40524 for the 2024-2025 fiscal year, marking a slight increase of 4 cents from last year’s rate of $0.36 This is the first tax increase in 11 years. The new rate will enable the city to fund essential infrastructure upgrades and add critical positions in departments like police, fire, and community development. Despite this increase, Forney continues to have one of the lowest tax rates in Kaufman County.
2025 FISCAL YEAR BUDGET
City Council approved the FY 2025 budget, outlining the city's sources of revenue and plans for utilizing funds in the upcoming fiscal year, which begins on October 1, 2024. As mentioned above, the budget includes funding for 16.5 new full-time positions and Increased funds for capital improvement projects, including new vehicles, equipment upgrades, and facility improvements. The full budget can be viewed online at forneytx.gov/budget.
EMERGENCY SERVICES DISTRICT NO. 6 INTERLOCAL AGREEMENT
The City of Forney provides fire and emergency medical services for Kaufman County Emergency Services District No. 6. Due to growth and more calls outside the city, a new agreement was made. This updated agreement makes the District responsible for reimbursing the City based on the share of total calls, resulting in about a 50/50 split of costs for the upcoming year.
REGULATION OF INSTITUTIONAL INVESTORS IN HOUSING MARKET
The City Council approved a resolution supporting state action to regulate institutional investors buying single-family homes. This mirrors a recent resolution by the City of Rowlett. Cities are concerned that large-scale investors are driving up home prices, making it harder for first-time buyers and lower-income families. The resolution notes that in fast-growing areas like Kaufman County, institutional investors accounted for 38% of home sales in 2021, contributing to rising prices and reduced affordability.
