Buda's budget
The Buda proposed budget totals $102.3 million, as previously reported by Community Impact Newspaper. The majority of the city's $15.3 million general fund revenue comes from taxes at 80%, according to the proposal. The general fund expenditures surpass the revenue slightly at $16.7 million; the largest chunks of the expenditures go to general government at 36% and public safety at 26%.
The budget is set to generate 16.02%, or $1,210,445, more in revenue from property taxes compared to the 2021-22 fiscal year. The proposal also comes with the same tax rate as the 2021-22 fiscal year, set at $0.3423 per $100 of assessed property value.
Other priorities among the budget include implementation of the 2021 bond passed last November, new comprehensive and downtown master plans as well as assessment of specific areas throughout the city for future development.
San Marcos' budget
The San Marcos proposed budget totals $297.4 million. Water, wastewater and electric utility rates will remain the same while storm water rates are set to increase by 6.5%.
The proposed general fund revenue is just over $96 million while the expenditures total $107.6 million. The majority of the expenditures come from personnel services at $66.4 million while the majority of the revenue comes from taxes at almost $80 million.
The budget is set to generate 14.4%, or $5,451,606, more in revenue from property taxes compared to the 2021-22 fiscal year. Additionally, the proposed tax rate at $0.5930 is lower than the previous years' tax rate at $0.6030. While the tax rate may lower, the taxable assessed value has continued to increase year-over-year according to the budget proposal, generating more money for the city and could be costing residents more in property taxes.
Both councils must adopt their budgets by Sept. 20.
