Austin's new city manager T.C. Broadnax is proposing another record-high budget at $5.9 billion. It's a 5% increase from the previous fiscal year of $5.5 billion.
AUSTIN (KXAN) — Austin's new city manager T.C. Broadnax is proposing another record-high city budget at $5.9 billion. It's a near 7% increase from the previous fiscal year of $5.5 billion.
You'll help pay for it. A "typical Austin homeowner" will see property taxes go up roughly $8.52 a month. As for rates and fees, you'll see a roughly $22 increase every month.
The budget included an estimated annual impact for the "typical" City of Austin residential taxpayer. Look at the chart below to see what this budget may mean for Austin residents' finances.
City financial staff have previously warned a dip in sales tax revenue combined with a state law capping how much money the city collects in property taxes (SB 2) is putting financial strain on the city.
Staff said Friday that they asked departments to cut roughly 1% of their independent budgets, but that the cuts did not result in a loss of services. Still, there won't be as much wiggle room for new initiatives.
"While I am pleased with many of the important investments in the proposed budget, we must do more to reduce homelessness, enhance public safety, and address our climate crisis," Council Member Ryan Alter said.
Here are some of the investments being made in the proposed Fiscal Year 2024-25 budget:
“Anti-displacement measures are at the top of my list of priorities and I am thankful that the City of Austin's base budget includes support for expanded housing efforts, including the funds secured for tenant stabilization and rental assistance," Council Member José Velásquez said.
KXAN City Hall Reporter Grace Reader is combing through the budget Friday. This is a developing story and will be updated. You can read the full proposed budget here.
There will be several opportunities for the public to voice their opinion on the budget before it is approved by Austin City Council. Council members and the city will host events through the middle of August. You can find ways to give your feedback here.
The Austin City Council is expected to vote on the budget and tax rate between August 14-16, according to the city's budget website.
The fiscal year starts Oct. 1.
KXAN reached out to every city council member to ask about their priorities for this budget. Council Member Mackenzie Kelly has said one of her top priorities is minimizing the cost to Austinites. She has indicated she will push for cuts to the budget.
Others told KXAN they are focused on putting money toward key issues like homelessness, public safety and affordability.
You can find a running list of Austin City Council member priorities here.
