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1. What Is The Proposed Total Maximum Tax Rate?

The tax rate, adopted by City Council at its September 8, 2022 Regular Scheduled Meeting, is $.39.  This represents a 4.2-cents reduction from last year’s tax rate of $0.432.

2. What Is The Total Amount Of The Budget?

The General Fund (day-to-day City operations) budget is $74.84M.  The General Fund is funded by property tax, sales tax and user fees. 

The Utility Fund working (water and wastewater) budget, funded by monthly water bills, is $42.36M. 

Restricted Funds (revenues for specific purposes, such as Economic Development (Type 4A), Community Development (Type 4B), Debt Service, Cable Fund, Public Arts, Replacement Fund) make up $70.62M of the budget.

Altogether these funds (General Fund, Utility Fund and Restricted Funds) add up to a total operating budget of $187.8M.

3. What Are Some Highlights In The Total FY 23 Budget?

The FY 23 budget maintains service levels that come with growth and increased call volume, as well as responds to new amenities coming online:

• 7 Public Safety FTEs:
  • Five Police Officers to establish Mental Health Unit (four Police Officers and one Sergeant): one-time cost of $354,800 and ongoing cost $611,007, total of $965,807
  • One Crime Scene Evidence Technician: one-time cost of $7135, ongoing cost of $73,667, total of $80,802
  • One Fire Training Employee: one-time cost of $60,000, ongoing cost of $133,907, total of $193,907
  • Five Reclassifications of Fire Captains: ongoing cost and total of $96,338
• 7.5 Civilian FTEs:
  • One Parks Project Coordinator: one-time cost of $3400, ongoing cost of $80,841, total of $84,421
  • One Park Attendant: one-time cost of $33,200, ongoing cost of $56,225, total of $89,425
  • Two Library Staff: one-time cost of $7950, ongoing cost of $107,293, total of $115,243
  • One Applications Analyst: one-time cost of $4500, ongoing cost of $118,953, total of $123,453
  • One Tech Support Manager: one-time cost of $4500, ongoing cost of $139,339, total of $143,839
  • One Risk/Safety Specialist: one-time cost of $2000, ongoing cost of $80,735, total of $82,735
  • .5/Part-time Human Resources Technician: ongoing cost and total of $18,260

4. Is This An Increase Over Last Year’s Budget?

Yes, the FY 23 budget represents a 3.92% increase to the General Fund budget and a 10.9% increase to the Utility Fund budget from the Fiscal Year 22 Amended Budget.

5. What Was The Average Taxable Value Of A Homestead In Cedar Park This Year And What Was It Last Year?

The taxable value increase is capped at 10% each year.  With this, the average taxable value in Cedar Park is $417,349 (Williamson and Travis Counties combined). It was $379,408 in 2021.  This taxable value is further decreased with Cedar Park’s $5,000 homestead exemption, which applies to 75% of Cedar Park homeowners:  the average taxable homestead value is $412,349 (was $374,408 last year). 

With the new tax rate of .39, the average Cedar Park homestead homeowner would actually pay slightly less: an estimated $1608 – representing a .6% decrease from last year’s average homestead tax bill of $1617.

6. What Is The Homestead Exemption?

In 2018, the Cedar Park City Council approved a homestead exemption, which automatically deducts $5,000 from the assessed value.  The homestead exemption is 1% of the value of the property, with a $5,000 minimum.  The homestead exemption also limits the increase in taxable value of a property to 10% per year.

Seniors 65 and older qualify for an exemption of $30,000 off of the assessed value.  The City offers a freeze in value for residents over age 65, meaning, once a homeowner reaches age 65, the City taxes they pay on the home will not increase regardless of any future increases on the value of the property.

Disabled persons may qualify for an exemption of $20,000 off of the assessed value.  

7. What Opportunities Were There For Public Input On The Budget, Prior To Adoption?

The Cedar Park City Council discussed and set the maximum tax rate at its August 11, 2022 City Council Meeting. 

Cedar Park City Council held its first Public Hearing on the Budget and Tax Rate at its September 1, 2022 City Council Meeting.

City Council held its final Public Hearing on the Budget and Tax Rate, both of which were adopted, at its Thursday, September 8, 2022 City Council Meeting.