A property tax rate of $0.4139 per $100 of property valuation was passed Sept. 8, a decrease of about $0.061 off the total tax bill, mostly from the maintenance and operations portion of the tax rate, according to city documents. The FY 2021-22 tax rate is $0.4754.
Due to increases in property values, however, the lower rate effectively raises tax dollars collected by about 5.9%, according to the city.
The FY 2022-23 budget clocked in at $312.1 million in expenditures, or a 14.5% increase over the FY 2021-22 budget. The city expects to pay for that a combination of revenues estimated at $175.62 million, beginning capital reserves of $108.48 million and beginning fund reserves of $84.57 million. That would leave the city with a fund balance of $56.58 million in reserves.
Copies of the proposed city budget can be found at the New Braunfels Public Library at 700 E. Common St. and on the city’s website.
The council meets at 6 p.m. Sept. 12 in the City Council chambers, 550 Landa St., New Braunfels.
