The city anticipates a revenue of $75.48 million coming from a combination of sales tax, property tax, sanitation revenues, and fees, among other sources, according to city documents.
The budget also plans for $75.35 million in expenses which fund administrative services, city council and city departments, among other needs, according to city documents.
The property tax rate remained $0.420000, the same rate the council adopted for FY 2018-19.
While the property tax remains the same, homeowners will likely pay higher taxes.
A homeowner with an existing average taxable homestead value of $285,357 will pay approximately $30 more in taxes than in the previous year, according to city documents. The total tax bill for an average existing home in Georgetown will be $1,198, compared to the 2018 average tax bill of $1,168, city documents state.
The average existing taxable homestead value grew 2.6% in 2019, city documents state.
The budget also accounts for additional employees including six police officers, one code enforcement employee and three fire service employees.
FY 2019-20 begins Oct. 1
In other business:
- The council nominated Harry Gibbs, Charles Chadwell and Rufus Honeycutt to the Williamson Central Appraisal District board of directors. The WCAD appraises residential and commercial properties within the city limits.
