The 2025 Budget was approved at the September 19th City Council meeting.
Highlight: We lowered the mill levy rate from 19.8 mills in 2024 to 13.78 mills in 2025.
What's that mean?
- We did not exceed the revenue neutral rate
- In spite of a 7.3% increase in property values, the average homeowner in De Soto will see a 25.5% reduction in City property taxes - without decreasing services!
- Ex. In 2024, the average home in De Soto is valued at $309,400, paying $705 in City property taxes. In 2025, the average home will be valued at $332,000 but pay just $525 in City property taxes
Other Highlights:
- Added $2M to the Capital Improvement Fund (CIP) for future projects
- Four new full-time positions
- Increased annual road maintenance program budget from $750,000 to $1M
- No increase to water rates (full transparency: sewer rates +2.5%)