The council also voted unanimously to maintain the city’s property tax rate at $0.19 per $100 valuation, although rising appraisal values mean most citizens will pay more in taxes.
The city expects to make roughly $1.98 million on ad valorem taxes in fiscal year 2021-22, amounting to a roughly $350,000 or 21.5% increase over last year. Of that increase in revenue, roughly $207,000 will be raised by new property added to the tax roll this year, according to the budget.
The city also expects to make about $180,000 more in sales tax this year, for a total of $3.79 million in sales tax revenue.
The city will spend $2.2 million in salaries, marking about $400,000 more than in fiscal year 2020-21. The city will also spend about $71,000 on park improvements, and about $1.36 million on transportation improvement projects and street improvements.
The city’s annual Founders Day celebration will make about $118,800 in revenue and cost about $99,500.
