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News

City Council approves budget, tax rate focused on Building Toward the Future

Published on August 26, 2021 under RRnews

The Round Rock City Council approved Thursday, Aug. 26, a $525.4 million budget for Fiscal Year 2022 focused on infrastructure spending and new programs designed to meet the demands of a growing community. The budget includes a record amount for road construction and a new mental health response team to deal with increasing challenges faced by public safety officers.

The City Council also approved a property tax rate of 39.7 cents per $100 of valuation, which is 4.2 cents less than the current property tax rate of 43.9 cents. The rate is an increase of 1.0 cent, or 2.5 percent above the No New Revenue rate of .38.7441 cents, which is the rate that generates the same amount of revenue as the previous year based on the growth in property values from the previous year.

The owner of a median taxable value home will see a property tax increase of approximately $2 per month. The tax rate increase is needed to provide additional funding to pay for the City’s $240 million road expansion program, Driving Progress.

The City Council is scheduled to take final, second reading votes on the budget and tax rate on Sept. 9.

To learn more about the budget, you can review a series of blog posts about the FY 22 financial plan.

$525.4 million spending plan for FY 22 keeps Round Rock Building Toward the Future

Budget proposal includes major infrastructure investment

Proposed budget devotes $37 million to police, a 7% increase

Aggressive road building program requires slight tax increase

Leveraging local sales taxes pays off for City homeowners

The Finance Department has also prepared three helpful documents, the Budget in Brief, Property Tax Fact Sheet and Budget Highlights, which provide detailed information about the budget and tax rate.

For complete budget information, visit roundrocktexas.gov/budget.

The post City Council approves budget, tax rate focused on Building Toward the Future appeared first on City of Round Rock.

Source: City of Round Rock

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