Categories: Around HaysNews

Buda City Council Passes Budget And Slightly Lower Tax Rate

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

Budget Highlights

The Fiscal Year 2021 budget levies a property tax rate of $0.3423 per $100 of valuation.

It is a decrease of $0.0073 per $100 of valuation from the current tax rate, which is $0.3496. The budget includes a water rate increase of 3% and a wastewater rate increase of 4%.

The budget also includes five 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

The 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 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 the 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 increased 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 than the previous year.

The 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 

The Fiscal Year 2021 Budget Expenditures

  The 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

The Fiscal Year 2021 Capital Improvements Expenditures

  • Capital Improvements – $14.6
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