New Braunfels City Council is slated to consider the second and final approval of the fiscal year 2022-23 budget and property tax rates at the regular Sept. 12 meeting after being preliminarily approved by unanimous vote at a special meeting Sept. 8.
A property tax rate of $0.4139 per $100 of property valuation was passed Sept. 8, a decrease of about $0.061 off the total tax bill, mostly from the maintenance and operations portion of the tax rate, according to city documents. The FY 2021-22 tax rate is $0.4754.
Due to increases in property values, however, the lower rate effectively raises tax dollars collected by about 5.9%, according to the city.
The FY 2022-23 budget clocked in at $312.1 million in expenditures, or a 14.5% increase over the FY 2021-22 budget. The city expects to pay for that a combination of revenues estimated at $175.62 million, beginning capital reserves of $108.48 million and beginning fund reserves of $84.57 million. That would leave the city with a fund balance of $56.58 million in reserves.
