News Flash

City News

Posted on: September 15, 2020

Buda City Council Adopts Fiscal Year 2021 Budget/Tax Rate

Budget and Tax Rate Adopted

BUDA CITY COUNCIL ADOPTS
FISCAL YEAR 2021 BUDGET/TAX RATE

BUDA, TX — Sept. 15, 2020 — Buda City Council unanimously adopted the Fiscal Year 2021 Budget/Tax Rate at its Tuesday, Sept. 15 City Council meeting.

Budget Highlights

  • The Fiscal Year 2021 budget is a balanced budget that levies a property tax rate of $0.3423 per $100 of valuation. It is a decrease of $0.0073 cents per $100 of valuation from the current tax rate, which is $0.3496.   
  • Includes a water rate increase of 3% and a wastewater rate increase of 4%.
  • Includes 5 new employees (full-time equivalents), including new positions for Police, Communications, Finance, Engineering, and Water/Wastewater.  

Major capital projects for Fiscal Year 2021 include:

  • Public Works Facility Study
  • Cabela’s Connector
  • FM 2001 Pedestrian and Bicycle Sidewalk Path
  • RM 967 Sidewalk from Old Buda Elementary to Downtown
  • Overlook Lift Station Upsize and Interceptor for Cole Springs Road
  • Sunfield Effluent Wastewater Discharge Force Main
  • Bradfield Trail Connection to West Goforth
  • Garison Park Development
  • West Goforth Drainage Improvements
  • Whispering Hollow Street Drainage
  • Wild Wind Cove Groundwater Study
  • Downtown/City Park Parking
  • Reclaimed Water Ground Storage Tank

Fiscal Year 2021 Tax Rate

  • The Fiscal Year 2021 tax rate is $0.3423 per $100  of valuation. It is a decrease of $0.0073 cents per $100 of valuation from the current tax rate, which is $0.3496. 
  • Fiscal Year 2021 Total Taxable Value is $1,955,941,067 - Taxable Value to the City is $1,823,728,548.
  • A tax rate of $0.3423 will generate $6,695,186 in total revenue to the City ($0.2276 I&S = $4,150,806 and $0.1147 M&O = $2,091,817; this does not include $452,563 in the TIRZ)
  • The Fiscal Year 2021 budget includes revenues at a tax rate of $0.3423. For a homeowner with an average taxable value of $260,915 last year compared to the average taxable value of $267,928 in tax year 2020, the tax rate cost could increase by $5 per year.  
  • The maintenance and operations (M&O) portion of the tax rate will increase by $0.0051, and the debt portion of the tax rate will decrease by $0.0124 from the current year. The decrease in the debt portion of the rate is due to increase in taxable values citywide and growth in the City. At a tax rate of $0.3423, the City will generate $246,418 more property tax revenue that the previous year. Total taxable value in the City increased by $110 million over last year, and the maintenance and operations revenue is estimated to be $2.1 million.    
  • Buda boasts one of the lowest tax rates in the region and in the state for full service cities.    

Budget Breakdown

  • Total Revenue - $36,686,165, excluding capital improvements
  • Total Expenditure - $39,465,952, excluding capital improvements

Fiscal Year 2021 Budget Expenditures

Budget includes the following expenditures, in millions:

  • General Fund - $16.0                                                                                                   
  • Interest & Sinking - $8.1
  • Water - $4.5
  • Wastewater - $6.1
  • Sanitation - $2.1
  • Hotel/Tourism - $0.695
  • Other, including LGC, Library Spec. Rev., etc. - $1.9

Fiscal Year 2021 Capital Improvements Expenditures

  • Capital Improvements - $14.6











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