Lakeway City Council plans to vote on its proposed fiscal year 2020-21 budget and proposed tax rate during a virtual meeting Sept. 28.
At its Sept. 21 meeting, the proposed budget stood at $15.06 million, and the proposed property tax rate is a no-new-revenue tax rate of $0.1653 per $100 of assessed value. Both numbers could change before the final vote.
Lakeway’s total assessed taxable value dropped $14.08 million year over year to $4.98 billion, so the average city homeowner's tax bill is projected to remain the same despite the higher rate, according to City Manager Julie Oakley. The no-new-revenue tax increase should keep the city's property tax revenue flat year over year.
Residents may view the meeting live through the city's website.
Individuals wishing to comment on a specific agenda item by telephone during the meeting need to register on the city website before 3 p.m. Sept. 28.