Round Rock property owners can expect to pay an average of $95 per month in property taxes on a median-value home, an increase of about $2.50 from the previous year, if Round Rock City Council chooses to adopt its proposed tax rate.

That information came to light at council's Aug. 12 meeting, during which officials also revealed the median taxable home value in Round Rock for fiscal year 2021-22 is $287,101.

The city-proposed tax rate is $0.397 per $100 of valuation, one penny higher than the no new revenue rate.

While the proposed tax rate of $0.397 is $0.042 less than the 2021 rate of $0.439, it is 2.5% higher than the no new revenue rate, $0.387441, the rate which would generate the same amount of revenue as the previous year when considering growth in property values, according to the city.

This increase, according to city officials, will cover the city’s road expansion program.

“I think that the most important message out of all this is that this one penny is being used for the roadway expansion that our citizens want,” Mayor Craig Morgan said at the city’s packet briefing Aug 10. “It’s truly toward a core service infrastructure right where the city needs to be focused on.”

The total taxable value in Round Rock increased from $15.36 billion in 2020 to $17.67 billion, according to certified tax rolls from the Williamson Central Appraisal District, Chief Financial Officer Susan Morgan said in a presentation regarding the budget. Included in that increase is $381 million in new taxable value year over year, Morgan said.

Property taxes generated in the city will help fund a $525.4 million proposed budget, with single-family homeowners making up 19% of the $133.3 million general fund.

City information states the proposed budget includes an 8% increase in the police budget, bringing it to $37 million, $132.7 million for transportation improvements, and $7.3 million for the parks and recreation extension of the Brushy Creek Regional Trail system.

A public hearing for the proposed tax rate and budget will be held during the Aug. 26 meeting of the Round Rock City Council.