At its Aug. 18 meeting, Leander City Council discussed a proposed operating budget of $329.3 million for FY 2022-23 and a proposed tax rate of $0.455262 per $100 valuation, a decrease of $0.024437 from the FY 2021-22 tax rate.
Leander’s proposed tax rate is made up of a maintenance and operations, or M&O, rate of $0.272325, and an interest and sinking, or I&S, rate of $0.182937.
The city’s proposed operating budget is a noticeable jump from the current adopted budget of $213 million. This proposed budget includes a general fund of $67.78 million, a utility fund of $51.26 million and $116.19 million allocated toward utility capital project funds.
The city of Cedar Park is proposing a budget of $187.8 million, which includes $74.84 million for the general fund, $42.36 million for the utility fund and $70.62 million for restricted funds.
Assistant Director of Finance Kevin Klosterboer said based on the FY 2022-23 proposed budget, Cedar Park is “in a good place,” at the Aug. 11 meeting.
The proposed tax rate for Cedar Park is $0.39 per $100 valuation for FY 2022-23, a $0.042 decrease from the FY 2021-22 tax rate of $0.432.
Cedar Park’s proposed tax rate is made up of an M&O rate of $0.204061, and an I&S rate of $0.185939.
Both cities will be holding a second public hearing for the proposed tax rates.
Leander City Council will vote to adopt the budget at its Sept. 1 meeting, and the final reading and adoption of the tax rate will take place at its Sept. 15 meeting.
Cedar Park will hold a second public hearing for the proposed budget and tax rate at the Sept. 8 meeting. The council will also vote to adopt the budget and tax rate at this meeting.
