Buda City Council adopts FY 2020-21 budget, tax rate

Buda City Council adopted the 2021 fiscal year budget and tax rate. (Joe Warner/Community Impact Newspaper)
Buda City Council adopted the 2021 fiscal year budget and tax rate. (Joe Warner/Community Impact Newspaper)

Buda City Council adopted the 2021 fiscal year budget and tax rate. (Joe Warner/Community Impact Newspaper)

Ahead of the Oct. 1 start of the 2020-21 fiscal year, Buda City Council approved a property tax rate that is expected to generate $6.7 million in total revenue for the city.



At the Sept. 15 meeting, council held the second and final public hearing before adopting the recommended property tax rate of $0.3423 per $100 valuation, which is $0.0073 less than the 2020 rate.



The total net assessed taxable valuation for the city of Buda for 2020 is $1.96 billion, up from 2019's total taxable value of $1.83 billion.



Officials adopted a budget with anticipated total revenue of $36.7 million and $39.5 million in expected expenditures, excluding capital projects.



Included in the budget are funds to hire five new full-time employees, a water rate increase of 3%, a wastewater rate increase of 4% and a general fund of $16 million.



The budget also set aside $14.6 million for capital improvement expenditures for projects including the FM 2001 pedestrian and bicycle sidewalk path, the Garison Park development and Whispering Hollow Street drainage improvements.

By Lauren Canterberry
Lauren Canterberry began covering New Braunfels for Community Impact Newspaper in 2019. Her reporting focuses on education, development and breaking news. Lauren is originally from South Carolina and graduated from the University of Georgia in 2017.


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