Buda could look to its taxpayers this fall for support in getting its plans to improve infrastructure, drainage systems, downtown and other facilities off the ground.
The city is contemplating floating a bond this November, and voters could see a proposal as low as $10 million and as high as $40 million, according to a presentation made during a City Council workshop March 18.
Tax implications of passing a bond that would fund capital improvement projects were examined, with $30 million identified as a possible amount.
"It seems like with $30 million ... that seems like the sweet spot for us settling on a good amount at a reasonable [tax] rate that has the least impact to [taxpayers]," Councilman Bobby Lane said during the roughly 30-minute workshop.
Jennifer Douglas, a financial adviser contracted by the city, presented six options—$10 million, $15 million, $20 million, $25 million, $30 million and $40 million—and the approximate effect they would have on Buda's taxpayers.
A $30 million program could cause a property tax rate increase of $0.1038 per $100 of home valuation. For a home of average value—$158,140 in Buda—a taxpayer would pay an additional $164.15 in property taxes annually, according to the agenda packet from the meeting.
Two bond advisory committees, one charged with recommending general capital improvement projects and another with recommending possible library facility upgrades, have held meetings in recent weeks and are expected to hammer out a proposal for the council's consideration by July.
A community survey is available on the Buda Bond Advisory Committee website, www.buildingbuda.com. The questionnaire asks a wide range of questions, including what amenities the city could use more of.
Once input from the community is received at a meeting April 22, the advisory committee will examine a master projects list and begin prioritizing potential capital improvements to include as part of the bond proposal.
City Council has until Aug. 18 to call a bond election this November.
In a state of the city address March 19, Mayor Todd Ruge spoke about the potential bond.
The city has carved out several master plans in the past few years and is in the midst of updating its drainage master plan in light of the Halloween 2013 floods, he said. A public input process to formulate a master plan for downtown Buda is underway and expected to wrap up in June.
"Now that we have all these great plans in place, it's time to implement these plans," Mayor Todd Ruge said, later referencing the city library, for which "four or five plans that stretch back 20 years" have been made.
"We're at a point now where we are going to do something about these plans that we have on the shelf," Ruge said. "They're not going to collect dust. These plans are going to be implemented. Of course, it's going to take time and money, but we aim to put these plans into motion."
