City News

Posted on: September 20, 2017

Buda City Council Approves FY 2017-18 Tax Rate & Budget

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The Buda City Council unanimously approved the FY 2017-18 Tax Rate and Budget at the September 19, 2017 council meeting.

FY 2017-18 Tax Rate

•The 2017-18 tax rate is .3673 (2016-17 current tax rate is .3704 per $100 of valuation)  

•2017 Total Taxable Value is $1,561,827,449.  Taxable value to City is $1,465,308,416.  

•A tax rate of .3673 will generate $5,736,592 in total revenue (.2614 I&S = $4,082,617 and .1059  M&O = $1,653,975)

•The current 2017-2018 budget includes revenues at a tax rate of .3673. For a homeowner with an average value of $228,000 last year compared to the average value of $242,000 in 2017, tax rate cost will be $42 more per year, or $3.50 per month.

•The overall tax rate decreased from the current year.  A decrease of $.0134 occurred on the maintenance and operations (M&O) portion of the tax rate, and the debt portion of the tax rate increased by $.0103 over the current year.  The debt increase is due to the increased debt payments required for the City’s debt issuance for the $55 million bond program that was approved by voters in the November 2014 election. At a tax rate of .3673, the City will generate $277,401 more property tax revenue than the previous year.  Total taxable value to the City increased by $67.72 million over last year, and the maintenance and operations revenue is estimated to be $1.65 million.

Budget Breakdown

•Revenue: $29,052,564, excluding capital improvement

•Expenditure: $31,820,808, excluding capital improvement

FY 2017-18 Budget Expenditures

•Capital Improvement Expenditures: $60,465,588

Link to Capital Improvement Plan FY 2017-18 thru FY 2021-22
Capital Improvement Plan FY FY 2017-18 thru FY 2021-22

  • Budget includes the following expenditures:

    •General Fund - $12,149,928

    •Interest & Sinking - $6,363,095

    •Water -$3,438,391

    •Wastewater - $5,409,149

    •Sanitation - $1,543,257

    •Other including LGC, Hotel/Motel, Library Spec. Rev., etc. - $2,916,988
  • Total Budget: $92,286,396

    Citizens will see the tax rate impact on their 2017 tax bill.

    **For a homeowner with an average value of $228,000 last year compared to the average value of $242,000 in 2017, tax rate cost will be $42 more per year, or $3.50 per month.**


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