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The Town Council approved the Town's 2024-25 budget and tax rate earlier this week.
The budget was prepared with a conservative approach in allocating limited resources for the maximum benefit to the citizens of Sunnyvale. The adopted tax rate is unchanged from the current tax rate of $0.453. The budget includes the continuation of tax exemption policies that provide $4.6 Million in property tax relief to both residential and commercial property owners, including the 20% Homestead exemption for residents, the maximum allowed by state law.
Other budget highlights include the addition of public safety staffing, an updated 911 dispatch and jail services contract, upgrades to the emergency warning siren system, and a comprehensive land use planning study.
Thanks to strong financial policies, the Town's bond ratings were upgraded to AA+ Stable Outlook by S&P Global. This bond upgrade has helped save the Town almost $500,000 in interest on debt service for capital improvement projects.
Watch for more information about these individual projects in future editions of NewsFlash. The full budget document is available on the Town's Financial Transparency page.
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