The San Marcos City Council Tuesday adopted a municipal budget of $146,226,256 for the 2009-2010 fiscal year beginning Oct. 1. The budget is an increase of 0.35 percent (or one third of one percent).
The city council on Tuesday also adopted a property tax rate of $0.5302 per $100 of value, the same rate as 2008-09. The property tax rate will generate additional revenue of $694,758, reflecting a 5.8 percent increase in property values — two-thirds of which were added to the tax roll by new development.
Property values increased by $131 million, or 5.8 percent above the 2008-09 fiscal year. The new values reflected $90.1 million in new development, or 3.99 percent, and $40.9 million in existing values, or 1.81 percent.
The average home value increased from $118,238 to $119,462, with the average tax bill of $628.85, an increase of $1.95 for the year.
The City Council maintained the same water / wastewater and electric rates in the new budget. Solid waste and recycling rates also will remain the same.
“The 2010 municipal budget reflects a strict adherence to the city council’s goals and conservative budgeting in tight economic times,” said City Manager Rick Menchaca. “However, we are maintaining all current services and workforce and investing in public safety for our community.”
The General Fund budget is $39.9 million, the Water/ Wastewater Fund is $27.1 million and the Electric Utility Fund is $56.3 million.
Some of the highlights of the 2010 San Marcos budget include:
Funding for nine new firefighters and the first year of funding for a meet and confer agreement with police and firefighters.
The budget includes a projected 2 percent increase in sales tax revenues compared to actual collections in FY 2009. Sales tax revenues represent 46.3 percent of General Fund revenues.
The adopted budget will be posted on line at sanmarcostx.gov later this month. Currently the proposed budget and other information are posted on the city’s Web site.
— FROM THE CITY OF SAN MARCOS/MELISSA MILLECAMEmail | Print