City Administrator Amber Lewis said that for fiscal year 2018-19, there is an increase of 21 percent in expenditures compared to 2017-2018. The majority of the increase is earmarked for street maintenance and traffic calming infrastructure, Lewis said.
Officials also adopted the year’s tax rate at $0.20535 per $100 of valuation for the tax year 2018. City maintenance and operations will account for $.11630 and $.08905 will go toward sinking funds for the payment of principle, interest and the retirement of bonded debt.
According to city documents, the budget is estimated to raise property tax revenues by $142,715, which amounts to a 7.7 percent increase over the 2018 budget. Rollingwood’s property tax revenue raised from new property added to the tax roll this year is $77,859.
“The tax rate will effectively be raised by 3.9321 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $4.40,” city documents state.
By the numbers:
Based on the adopted rate of $0.20535, a Rollingwood homeowner with a homestead exemption and average taxable value of $1,210,550 would pay:
• $2,485.86 for FY 2018-19
• $50.23 over the 2018-19 effective tax rate
• $198.13 over the 2017-18 tax rate
Rollingwood total budget expenditures by percentage:
General fund: 44 percent
Water Fund: 17 percent
Street Maintenance Fund: 4 percent
Debt Service Fund: 14 percent
Drainage Fund: 3 percent
Wastewater fund: 18 percent
Other big-ticket items on the Rollingwood FY 2019 budget:
Stormwater drainage projects: $180,500
Parks and landscaping projects: $83,000
Police federal compliance and records management: $60,000
Police patrol vehicle: $47,000
IT and public meeting technology: $31,700
Traffic infrastructure: $31,500
Records management and digitization: $15,000