September 17 , 2024
Honorable Mayor and Members of the DeSoto City Council: In accordance with Article VII, § 2 of the City Charter, I dutifully submit the proposed budget for Fiscal Year (FY) 2025. This proposed budget document includes financial policies for the forthcoming FY with clearly defined explanations of significant changes from FY 2024. Also contained herein are revenue estimates for taxes and other revenue sources, which take into account the current tax rate structure and estimated valuation of properties for FY 2025. Additionally, summaries of proposed expenses by all municipal departments will be compared to previous FY actual expenses and current year-to-date (YTD) expenses to facilitate analysis. Various capital improvement projects are categorized and presented in a five-year format, in accordance with priorities established by the City Council. On February 1, 2024, the City Manager’s office and Finance Administration began the process of strategically developing the budget for FY 2025. During this meeting, staff outlined a plan for the Proposed FY 2025 and Planning FY 2026 budgets. Staff concluded the strategy sessions and then held a series of meetings with Departments to discuss their budgets. At the conclusion of these meetings, the proposed budget was compiled.
~Property Tax Rate~
The FY 2025 budget reflects our conservative fiscal philosophy regarding municipal fiscal operations. Since implementing this approach in 2011, the City of DeSoto has been duly recognized by state and national organizations for its financial stewardship. Subsequently, the City of DeSoto has proactively updated its fiscal policies and standards as we continue to be awarded these achievements. The City of DeSoto will continue pursuing financial excellence in FY 2025. One example of this has been exhibited over the past twelve FYs as residents and business owners alike have benefitted from an annual property tax rate that has not increased. In FY 2025, the City of DeSoto is proposing a tax rate of (.68 4934 ), which is .000158 decrease from FY 2024 rate .
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