Dripping Springs passes FY 2023-24 budget, tax rate

Dripping Springs approved a total budget of $44.7 million and a tax rate at $0.1718 per $100 valuation for 2023-24 on Sept. 25.

Although the property tax rate decreased from FY 2022-23’s rate by 3.4%, the average homeowner in Dripping Springs will see an about 11% increase in property tax bills due to rising home values in the area.

The consolidated general fund is a total of about $15 million and includes funding for improvements to parks, Founders Day, the eclipse and the city.

The breakdown

The general fund included expenses such as:

• $2 million in road improvements.
• $1.1 million in park improvements
• $1.2 million toward projects such as the remodeling of City Hall, facility improvements at Dripping Springs Ranch Park and architectural plans for the rehabilitation of the Stephenson Building
• $110,209 for merchandise and an event for the annular solar eclipse
• $160,025 for Founders Day

The budget will go into effect Oct. 1. For more information, visit www.cityofdrippingsprings.com.