Council passed the budget Sept. 29 while also ratifying a 2020 tax rate of $0.294066 per $100 of assessed value, a 2.93% decrease from the year prior.
This means that with an average taxable value in West University Place of $1,238,760, according to the city's budget presentation, that resident could expect to pay about $3,643 in property taxes for the year, though individual tax bills will vary by home valuation and exemptions.
The budget plans for a drop in recreation-related revenue of about $575,000, related to COVID-19, social distancing and health and safety guidelines, according to budget documents.
General fund expenditures overall are $21,276,070, outpacing revenue by over $266,000. West University will draw down its fund balance slightly, but it estimates ending FY 2020-21 with a $10.3 million ending fund balance.
In addition, the approved budget calls for a $200,000 loss in additional revenue in the general fund—earnings on investments and municipal court fees. Meanwhile, sales tax revenue is expected to actually see a $36,000 bump, in part due to an increase in online purchases.
