Georgetown City Council voted unanimously Tuesday to adopt the city's fiscal year 2017-18 budget on its initial reading. The council will vote Sept. 12 on the budget's final approval.
Council Member Rachael Jonrowe of District 6 proposed an amendment Tuesday that would alter a proposal to add a part-time arts and culture coordinator and make the position full-time but have the coordinator not start work until April to keep the cost of the new position within a $45,000 budget for FY 2017-18. The amendment was voted down by other council members before the council voted to adopt the budget on first reading.
Georgetown's budget process requires two formal votes by City Council before an annual budget is adopted.
City Council and staff have spent the past several months mulling a $337 million operating and capital budget for FY 2017-18 that includes funding for a slew of new full-time and part-time city staff positions, transportation and roadway improvements, and city parks upgrades.
City staff has proposed a property tax rate of $0.42 per $100 of property valuation, which is a decrease from the current fiscal year rate of $0.424 per $100 of valuation.
However, with Georgetown’s average home value estimated to increase from $253,320 in FY 2016-17 to $266,598 in FY 2017-18, city staff anticipates the average property tax bill will increase by about $47 in the coming year. Utility rates for water and electric service will not change in FY 2017-18, according to the city.
More budget information is available on the city's website:
https://finance.georgetown.org.