In Mid- September the City of Austin will approve the fiscal year 2010 budget and the plan is to raise the property taxes and water bills to adjust for the projected deficit of about $31 million. The property tax rate will adjust to the highest it can without voter approval - 42.09 cents per $100 of property value.
According to the Trqavis Central Appraisal district the average value of a home in Austin has increased 4.9%!
Other charge increases include raising the water and watewater about $3.78 a month and charging 65 cents a month more for the 90- gallon garbage cans
The city’s revenue comes from:
47% Austin Energy
16% Water Utility
15% Other
13% Property taxes
5% Sales and other taxes
4% Aviation
Total anticipated revenue $2.65 billion
How the city spends money:
37% Austin Energy - city owned electric utility
22% General Fund - city services like police, fire, emergency service, parks
19% Debt Service - managing debt from bonds
14% Other
8% Water Utility - water treatment, capital improvements
Total proposed budget $2.75 billion
Sources: Impact Community Newspaper
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