The tax rate will stay the same from FY 2021-22.
The proposed budget is a decrease from last year’s general fund budget, which totaled $10.92 million. In total, sales tax revenue will be approximately $14 million citywide, Bee cave City Manager Clint Garza said. The majority of revenue, $10.5 million, will go to Council. This represents a 19% increase from the previous year.
The proposed budget for FY 2022-23 forecasts $11.8 million in general fund revenues; this includes sales tax revenue, mixed drink taxes, franchise fees, library fees, building fees, interest, municipal court and some minor miscellaneous fees. General fund revenues are also up 15% from last year.
The budget will raise $79,669 more in total property taxes than last year’s budget. About 15.4% of that amount, or $10,295, is tax revenue raised from new property added to the tax roll this year, according to city documents.
Some new financial considerations discussed during previous meetings include a salary adjustment for the police department and the cost of living increase for city staff.
The cost of a 15% adjustment for the police department will be $195,712, and the living increase for staff will be 5.5% at $221,771, Garza said.
