Lakeway City Manager Joseph Molis presented the community with the annual State of the City address on March 7, detailing city finances and accomplishments in 2023.

The gist

Molis discussed the city’s budget, including revenue and expenditures, as well as the residential property tax burden.

Molis said because Lakeway is more of a residential community rather than a commercial one, the property tax burden often shifts to residential homeowners. He said in other cities, the difference is not as drastic.

The property tax burden increases year over year for Lakeway homeowners, whereas the tax burden decreases for commercial property owners year over year, according to city documents.

Of the city’s $19.74 million budgeted revenues for fiscal year 2023-24, 41.3%, or about $8.15 million, comes from property taxes, according to city documents.

The largest portion of the city’s budgeted expenditures for FY 2023-24 funds the Lakeway Police Department. Of the budgeted expenditures of $19.69 million, LPD receives 39%, or about $7.7 million, according to city documents.

The specifics

Molis also covered the accomplishments of various departments over the last year.

Lakeway City Council approved several ordinances related to building and development services in the last year, including:

• Garage sale ordinance
• Xeriscaping or integrated water management ordinance
• Dark Skies ordinance
• Greenbelt ordinance
• Short-term rental process update

Emergency management services accomplished numerous things in 2023, including:

• Preparedness workshops and initiatives
• Warming center/shelter at Lakeway Church
• Red Cross training
• Mitigation efforts in collaboration with TxDOT, Austin Energy and Pedernales Electric Cooperative

The city’s finance department implemented new budgeting and accounting software in 2023, and the municipal court is working on the implementation of a teen court program, according to city documents.

The Lakeway Parks and Recreation Department opened the Hurst Creek Sculpture Garden and added four pickleball courts to the city in 2023 as well as hosted 22 city events, according to city documents.

What else?

Molis also discussed the progress of the 2022 transportation bond projects, including:

• Lakeway Drive and the Top O’ the Lake Drive culvert replacement: set to begin this summer and estimated to be completed in September
• Lakeway Boulevard, Lakeway Drive and Lohmans Crossing mill and overlay project; and the sidewalk on Dave Drive: out for bids and estimated to be completed by the end of this year
• Wild Cherry Drive and Flint Rock Road intersection traffic signal: estimated to be completed by end of this summer