Austin City Council forecasts rising budget deficits
Austin's 5-year financial forecast for budget
In a work session on Tuesday, Austin City Council received a five-year financial forecast for the city's budget.
AUSTIN, Texas - In a work session on Tuesday, Austin City Council received a five-year financial forecast for the city's budget.
What we know:
Projections show there could be a deficit of $33.4 million in FY 2026 and $79.9 million by FY 2030.
The city says this is the result of the state passing a lower property tax revenue cap and lower sales tax revenues. Deficits could lead to higher property taxes and utility charges.
"This forecast describes the headwinds the city's general fund will be facing in the coming years," city manager T.C. Broadnax said.
You can share your thoughts in an online survey as the city comes up with next year's budget. The survey will be available through early May.
For more information, click here.
The Source: Information from the Austin City Council