At the September 20 City Council meeting, the City Council approved the fiscal year 2023 budget and tax rate. The City's fiscal year is October 1 - September 30. Next year represents the FIFTH consecutive year that the City has adopted the no new revenue tax rate. This is the tax rate that ensures that the City brings in the same amount of property tax revenue from last year, excluding new growth. So, as property values continue to rise, the City offsets the increase in value with a decrease in the property tax rate, keeping taxpayer's City portion of the tax bill generally the same.

The FY23 budget includes additional funding for police and fire, community beautification and park maintenance, and investment in infrastructure such as roads, water and wastewater improvements, drainage projects, sidewalk connections, and facilities. All City financial information can be found at Colleyville.com under Finance Department/Financial Transparency.