An increased tax rate will go to support a $506.88 million fiscal year 2022 budget for Central Health.

The Central Health board of managers on Sept. 9 approved the health care district’s new budget and tax rate. According to Central Health budget documents, the $506.88 million FY 2022 budget is $139.53 million higher than last year’s budget total, representing a 37.98% increase.

Central Health’s budget is funded in part by an 8.7% increase on the average appraised value of taxable homesteads for the health care district.

Managers approved a 1.4% increase in the total tax rate for the upcoming fiscal year. The total tax rate homeowners will see on their property tax bills next year is 0.111814 cents per $100 valuation.

As previously reported by Community Impact Newspaper, Central Health estimates the tax rate increase will result in a $40 higher tax bill for the average taxpayer.

Earlier this year, Central Health adjusted its homestead exemptions for residents over 65 years of age and residents with disabilities. The homestead exemption now goes up to $100,000—up $15,000 from the previous fiscal year budget.

“We have the largest allowable homestead value by state law,” said Lisa Owens, deputy chief financial officer for Central Health, during the Sept. 9 meeting.

The Central Health FY 2022 budget now moves onto the Travis County Commissioners Court for final approval. That vote is scheduled to take place Sept. 21, according to Central Health documents.