The city of Cedar Park is proposing a $0.001 decrease in the property tax rate for the upcoming fiscal year.
Cedar Park City Manager Brenda Eivens and Assistant Director of Finance Chad Tustison presented a preliminary total operating budget of $153 million with a proposed tax rate of $0.448 per $100 of taxable value to Cedar Park City Council during a workshop Aug. 1.
If approved, this will be the seventh year in a row the city has lowered its tax rate, and the rate will be the lowest one the city has seen in 22 years, Tustison said.
Breaking down the budget
Highlights of the fiscal year 2019-20 working budget include new city positions, community projects and full implementation of the city’s drainage program.
The proposal also includes fire station improvements, transportation projects, park projects and trail connections.
Additionally, the preliminary budget includes funding for three drainage projects outlined in its stormwater master plan. The flooding-mitigation projects are for two neighborhood areas—Ranchettes 2 and 3 and Riviera East—as well as the lower portion of Cluck Creek.
Impact on taxpayers
The average home value in Cedar Park for fiscal year 2019-20 is estimated to be $332,950, according to the Aug. 1 presentation, an increase of about 4.2% from the previous year.
If the new tax rate is approved, an average homeowner in Cedar Park would pay about $124 per month in the city’s portion of property taxes next year. This is about a $4.74 increase per month from the previous year, according to the presentation.
The first public hearing for the budget will take place Sept. 12, and the second will take place Sept. 19, with City Council’s adoption of the budget occurring Sept. 26, according to the presentation.
Though a hearing was originally planned for Sept. 5, City Council voted Aug. 8 to push back the
timeline due to Travis Central Appraisal District’s delay in filing certified tax rolls, according to Eivens.