The Sherman City Council is making progress on the 2024-2025 budget

SHERMAN, Texas (KXII) – The city of Sherman is finalizing its 2025 budget, which includes about $190 million in public spending.

The budget includes a $26 million debt issuance to pay for road projects, as well as a 6.5% average pay increase for police and firefighters.

The city initially planned to issue more than $35 million in bonds but scaled back that number after the Sherman City Council raised concerns about overspending.

The property tax rate will remain unchanged at 50.8 cents per $100 of valuation.

The budget also includes small increases in water and waste charges.

In addition, it will impose new water charges on the city’s largest industrial users, including Texas Instruments and GlobalWafers.

The municipal council is expected to finalize the budget in September.