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1. What Is The Proposed Total Maximum Tax Rate?

The max tax rate set by City Council at its August 10, 2023, Regular Scheduled Meeting is $.370000 per $100 of valuation. This represents a 2.0-cent reduction from last year’s tax rate of $0.390000.

2. What Is The Total Amount Of The Budget?

The General Fund (day-to-day City operations) budget is $76.26M. The General Fund is funded by property tax, sales tax, transfers from other City funds for providing administrative support and user fees. 

The Utility Fund working (water and wastewater) budget, funded by monthly water bills, is $45.4M. 

Restricted Funds (revenues for specific purposes, such as Economic Development (Type 4A), Community Development (Type 4B), Debt Service, Cable Fund, Public Arts and the Replacement Fund) make up $75.71M of the budget.

Altogether these funds (General Fund, Utility Fund and Restricted Funds) add up to a total operating budget of $197.4M.

3. What Are Some Highlights In The Total FY 24 Budget?

The FY 24 budget maintains service levels that come with growth and increased call volume, as well as responds to new amenities coming online.

• 2 Public Safety FTEs:

1. 1 Police Training Coordinator: one-time cost of $500 and ongoing cost of $104,231
2. 1 Detective: one-time cost of $89,157 and ongoing cost of $129,975 
3. Corporal-Sergeant conversion (existing FTE): ongoing cost of $23,000

• 7.0 Civilian FTEs:

1. 1 Project Manager/Engineer: one-time cost of $5,500 with ongoing cost paid via Bond Funds.
2. 1 Transportation position to help the City strategically implement capital projects from the Mobility Master Plan currently in draft form: one-time cost of $5,000 and ongoing cost of $170,000
3. 2.5 Positions to support the new library under construction

• 1.50 FTEs for additional capacity: one-time cost of $10,800 and ongoing cost of $57,575
• 1 Makerspace Specialist: one-time cost of $4,824 and ongoing cost of $94,7531 
• 1 Helpdesk Specialist dedicated to the new library: ongoing cost of $80,640
• 1 Parks Maintenance Worker: ongoing cost of $59,900
• 0.50 Information Services Admin Assistant (Part-Time): ongoing cost of $34,460

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

Yes, the FY 24 budget represents a 0.44% increase to the General Fund budget from the FY 23 Amended Budget and a 6.26% increase to the Utility Fund budget from the Fiscal Year 23 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 $461,651 (Williamson and Travis Counties combined). It was $446,469 in 2022.  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 $471,391 (was $422,359 last year). 

With the new proposed tax rate of $0.370000, the average Cedar Park homestead homeowner would pay slightly more: an estimated $1,726 – representing a 6.0% increase from last year’s average homestead tax bill of $1,628.

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 in 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 10, 2023, City Council Meeting. 

Cedar Park City Council will hold its first Public Hearing on the Budget and Tax Rate at its September 7, 2023, City Council Meeting.

City Council will hold its final Public Hearing on the Budget and Tax Rate at its Thursday, September 14, 2023, City Council Meeting.