Georgetown ratifies tax rate, approves first reading of $1.3B budget

“We will be one of the lowest [tax rates] in our region,” Cantu said.

The ratified tax rate is higher than the no-new-revenue rate of $0.340269 per $100, but lower than the maximum rate of $0.353152 per $100, which council members set at an Aug. 12 meeting.

In case you missed it

The tax rate will support the proposed $1.3 billion budget, which includes:

• $703 million in planned capital projects
• $85.3 million in purchased electricity
• $67.8 million for public safety
• $63.4 million in water operations

For the capital improvement projects, the majority of allocated funds—$512.9 million—will go toward water projects. The budget also funds 70 new full-time employees, including 13 firefighters and eight police officers.

What else

Residents can also expect increased utility bills, following council members adopting the first reading of the water and wastewater rate increases, including:

• 9% increase for water base rate
• 9% increase for water volume rate
• 12% increase for wastewater rate

For a customer who uses 10,000 gallons of water a month, the rate increase amounts to about $13.40 more on their utility bill annually.

What’s next

The second reading of the budget, tax rate and fees will take place Sept. 9, when council members may adopt both the tax rate and budget. The new fiscal year begins Oct. 1.