Based on the current property tax rate of $0.7425 per $100 valuation, the proposed budget would raise $617,040 more—an 8.24% increase—in property tax revenue compared to the FY 2022-23 budget, according to city documents. To bring in the same amount of revenue as last year, the tax rate would need to be set at $0.652541 per $100 valuation.
The maximum proposed tax rate is $0.855245 per $100 valuation, but a tax rate of $0.767816 per $100 valuation or higher would require voter approval.
Budget explained
- The proposed budget estimates $29.3 million in expenses.
- Sales and property taxes would bring in an estimated $13.65 million, about 60% of the city’s revenue.
- The largest city expense is emergency services—$9.7 million in the proposed budget.
The new budget reflects economic and community factors affecting the city in the past couple of years.
- Over the past two years, the city has dealt with rising inflation of roughly 8% per year.
- Infrastructure costs have risen sharply, exceeding the inflation rate by three times the previous years.
- Community expectations regarding repairs of parks, streets and other services as well as the desire to keep Jersey Village an attractive place to live, work and visit have driven budget decisions.
Assistant City Manager Robert Basford also presented recommendations regarding the city improvement projects that will require bond elections. The following could potentially be placed on Nov. 7 ballots, pending council approval.
- Water and sewer: $15.8 million
- Street and bridge repair: $18 million
- Pool and park renovations: $19 million
Council is set to adopt a budget at its Aug. 21 meeting before the beginning of the new fiscal year in September.
City officials are seeking public and internal input on potential bond projects here.
