Buda adopts $102.6M budget, keeps tax rate the same

Buda City Council adopted the 2022-23 budget Sept. 20. The new budget clocks in at $102,559,173, of which around $50 million will go toward capital improvement projects, some of which are directly tied to the 2021 bond.

The earmarked funds for capital improvement projects include a recreation center with a pool; restoration and repairs to historic buildings; and other engineering, mobility and water projects throughout the city..

The new budget contains a $1.2 million increase to the general fund, which totals to $16,923,353, which will be utilized for two new police positions, two additional parks maintenance employees, and a development navigator position that will serve as a bridge between the city development staff and developers. Around 80% of the city's general fund comes from tax revenue, according to the budget.

Other notable focus areas for city staff and council include economic expansion, employee retention, downtown parking and more.

Residents can expect to see an average of 15% increase in combined water and wastewater fees.

Additionally, the council adopted the same tax rate as last year at $0.3423 per $100 of assessed property value. Despite the steady decline in the tax rate over the years, property taxes to the city have increased as property values continue to increase as seen by the budget's $1.2 million increase in property tax revenue.