Kyle City Council approves $272.5M budget, lowers property tax rate
KYLE, Texas - The Kyle City Council has approved a new city budget for next fiscal year, as well as a lower property tax rate.
City Budget
The $272.5 million budget includes investments in infrastructure and services, says the City, and is based on goals identified by Council and staff during budget work sessions.
Priorities include increased street maintenance and rehabilitation, strategic planning, economic development, small business retention, increasing community engagement and enhancing public safety.
This year’s $176.4 million Capital Improvements Program (CIP) includes long-term investments:
- $31.1 million for downtown revitalization and $75,000 for a Downtown Façade Grant for businesses
- $21.4 million in water system improvements
- $2.3 million for the reconstruction of Goforth and Heidenreich
- $1 million for increased street maintenance
- $5.7 million for parks improvements
- $4 million to create an Infrastructure Plan for development of retail centers and grocery stores on the East side of the city;
- $150,000 in small business support
The CIP also includes funds for 38 new positions throughout the city from police, public works, engineering and communications.
Another key component is the $55.8 million for the General Fund, that provides services like parks and recreation, public safety, planning and the Kyle Public Library.
The approved budget also includes no increase in water service rates, wastewater service rates or storm drainage fees, and only a 2.52% increase in solid waste service rates per the City’s contract with Texas Disposal Systems. Other fees and charges for various city services remain the same.
Property Tax Rate
Council also lowered the current property tax rate to $0.4693 per 100 dollars or taxable valuation – a decrease of $0.0389 or 7.65% from the City’s current rate of $0.5083 per $100 taxable valuation.
The City says its portion of a homeowner’s property tax bill is only about 20% based on current tax rates.
The other 80% is for property taxes charged by other taxing jurisdictions including the school district, Hays County, emergency services districts, Austin Community College, conservation and groundwater districts.
Due to economic development, strong sales tax revenues and other fees, the owner of an average homestead valued at $338,506 will pay $123.57 per month in property tax to the City.