The City Council Thursday will conduct a series of public hearings on the proposed fiscal year budget, including how much tax property owners may have to pay next year.
The meeting starts at 6 p.m. in Council Chambers, 400 Porter St.
The first hearing, agenda item number 5, concerns the annual budget. Immediately afterward, item number 6 introduces the ordinance to adopt the budget. The city will also hold a public hearing establishing the upper limit of the property-tax rate and introduce an ordinance to adopt it as well.
It is anticipated after the public hearings the council will postpone the votes on adopting the Fiscal Year 2025 budget and tax rate until the Sept. 12 City Council meeting, according to city documents.
Taylor’s total combined budget proposed for FY 2025 shows expected revenues of $67,560,022 and expenditures of $66,752,018.
By law, a city budget must be in place by Oct. 1.
The budget is based on the voter approval rate of 59.1368 cents per $100 of appraised property value. That is the highest rate increase the city can vote for without voter acceptance.
The no-new-revenue tax rate, which would result in most properties paying the same amount in 2025 as 2024, would be 55.5974 cents, officials said.
At 59.1368 cents, Taylor’s tax rate would be higher than the proposed rates for Hutto, Round Rock, Georgetown, Pflugerville, Leander and Cedar Park.
The next highest would be Pflugerville at 54.28 cents.
Taylor’s proposed rate would raise $896,140 more in revenue than the no-new-revenue rate.
If passed, the proposed rate would also raise more total property taxes than last year’s budget by $2.9 million, a 19.5 percent increase.
The majority of that would be raised from new development added to the tax rolls this year, according to the city.
Also on the agenda for Thursday: a 9/11 proclamation recognizing those who lost their lives during the terrorist attacks of Sept. 11, 2001; an update from the Historic Preservation Commission; a change to the current noise ordinance regarding construction; and public hearings for a zoning change, an employment center plan, a special-use permit for lodging and a change to the Land Development Code.
