Austin City Council Approves $3.9 Billion Budget, With An Increase In Property Taxes
Austin homeowners will pay more in property taxes and fees to the city next year under a $3.9 billion budget approved by City Council on Wednesday.
The budget for the coming fiscal year, which begins Oct. 1, passed on an 8-3 vote. Council Members Ellen Troxclair, Jimmy Flannigan and Ora Houston voted no.
People under 65 who own a median-priced home (valued at $305,000) will pay an additional $151.14 annually to the city in property taxes and fees.
City Council also voted to increase the senior homestead exemption to $85,500, further decreasing the home value amount taxed for an owner who is 65 or older. The non-senior homestead exemption was not increased.
Council members approved the budget after a three-day marathon, with little wiggle room to make changes to the proposal introduced last month. Council members had $5 million to assign to myriad programs. They ended up spreading that out to pay for items such as homelessness initiatives and public health contracts.
The budget will also pay for additional staff, including 27 new positions within the city’s Code Department and nine positions with the city’s new Central Library.