City of Austin releases proposed budget for next fiscal year

AUSTIN, Texas - The city of Austin has released its proposed budget for the next fiscal year. 

The $5.5 billion budget includes nearly $56 million to tackle homelessness and nearly $166 million to begin building the Project Connect light rail system, which was approved by city council last month.

It provides money to beef up training and recruitment for the understaffed Austin Police Department and raises the minimum wage for city workers to $20.80 an hour from $20 an hour.

READ THE FULL PROPOSED BUDGET HERE

This budget will raise about $23 million more, or 2.3% more, in property taxes compared to last year's budget, with just under $11.2 million of that due to new property coming onto the tax rolls.

The property tax rate is proposed to be nine percent lower in the next fiscal year, but the average homeowner will see a 1.5 percent increase in taxes due to rising property values, the equivalent of an additional $2.16 a month, or $25.91 a year.