New Braunfels City Manager Robert Camareno presented the proposed fiscal year 2023-24 budget to City Council on Aug. 7 along with the new tax rate, which is slated to be lower than last year's.

The breakdown

The proposed tax rate for FY 2023-24 is the fourth consecutive year with a property tax decrease, Camareno said.

The maintenance and operations portion is $0.20 with the interest and sinking portion at $0.2089 for a total of $0.4089, lower than last year's $0.4139.

The M&O portion goes directly to the city's general fund, while the I&S goes toward debt service.
The proposed tax rate for FY 2023-24 is lower than the FY 2022-23 tax rates for neighboring cities, such as San Marcos, San Antonio and Austin, according to the proposal.

Camareno added this year's proposal is a balanced budget with equal revenue and expenditures, both slated at $419.55 million with a 19.1% increase in revenue from last year.

The revenues are broken down as follows:
  • Revenue: $198.07 million
  • Beginning capital reserves: $151.25 million
  • Beginning fund reserves: $70.23 million
More than half of the revenue comes from taxes and other franchise fees.
For budgeted expenditures, the largest portions would go toward capital improvement projects and public safety.
What's next?

City Council will continue workshops Aug. 10 and 14.

There will be public hearings Sept. 7 and 11 for the tax rate and budget with adoption Sept. 11.