The Murphy City Council has proposed a voter-approval property tax rate one-half penny lower than last year’s levy.
Councilmembers have also considered proposals to raise water and sewer rates in October.
Council set a proposed rate of $0.3575 per $100 of assessed property valuation and scheduled a public hearing for Tuesday, Sept. 16, before taking a final vote on adoption. Councilmembers will also consider the city budget at that time.
Finance Director Berna Fitzpatrick-Walker said at the Tuesday, Aug. 19, council meeting that the proposed tax rate is 1% or $0.005 less than the FY25 rate of $0.3625 per $100. The no-new-revenue rate would be $0.3435 per $100.
The finance director said the proposed tax rate was based on a maintenance and operations (M&O) rate of $0.2662 per $100 of assessed valuation and a debt service (I&S or interest & sinking fund) rate of $0.0913.
The rates were based on taxable value of property in the city of $3.95 billion, according to 2025 certified totals from Collin Central Appraisal District.
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