Process begins for possible $409.5 million bond referendum in Plano

PLANO, TX – The first public view into the process behind a possible Plano bond election in May began with a presentation of $409.5 million in recommended projects at an Oct. 26 City Council meeting.

The recommendations include roughly 27 departmental facilities projects, 19 park improvement projects, a single recreation center project and 20 street improvement projects, according to the presentation. Proposals include the remodeling of two fire stations, roof replacements for municipal facilities, continued phases of improvement projects at Los Rios and Jack Carter parks, and street repair and reconstruction.

If the entire preliminary bond were to receive approval from council and voters, there would be a projected tax rate increase of of $.0343 per $100 of assessed property value beginning in 2025. An increase would not be expected until the final year of the four-year issuance of the bond and would cause the average Plano homeowner’s tax bill to increase by $109.21 in fiscal year 2024-25.

“Over the last 20 years, we always issue what we feel like the projected tax rate change could be during the time period,” Budget Director Karen Rhodes-Whitley said. “However … we’ve only had to increase our tax rate [once] … back in 2009 … for the start of the great economic downturn.”

In addition to the complete list of projects, city staff also prepared alternative referendum options valued at $101 million, $350 million and $375 million. The only package with no impact on the tax rate in 2025 is the $101 million option, according to the presentation. The other two options would have just under $100 in property tax impact for the average homeowner.