Highland Village lowers tax rate, plans key projects for new fiscal year

The city of Highland Village’s fiscal year begins on Oct. 1 with a slight decrease in the property tax rate.

The tax rate is dropping from $0.501394 to $0.500273 — a 0.2% reduction. Despite the lower rate, a 4.9% increase in assessed property valuations will result in additional property tax revenue for the city, Highland Village officials said. Sales tax revenues are also projected to increase by 6.8% compared to last year’s budget.

The city’s 2024 base budget is set at $24.2 million, with an additional $600,126 allocated for supplemental requests. As part of efforts to attract and retain qualified personnel, the budget includes a 4% salary adjustment and market adjustments for select positions.

Key initiatives for the new fiscal year include adding a new position in the Highland Village Fire Department and converting two existing positions to a standard 2,756-hour annual schedule, effectively increasing each shift from six to seven firefighters. Other planned projects include:

• Consulting services to improve the city’s rating with the National Flood Insurance Program Community Rating System, which would lower premiums for residents with flood insurance
• Professional services to update and reorganize the city’s zoning ordinance
• A structural engineer analysis of the municipal complex
• Upgrades to fencing at Unity Park’s pickleball courts
• Installation of an emergency generator at the Public Works facility