KYLE — So far as the city’s property tax rate is concerned, city councilmembers in Kyle encountered no unpleasant surprises when City Manager Lanny Lambert introduced a proposed budget for Fiscal Year 2014 Thursday.
The proposal calls for no increase in the maintenance and operations (M&O) portion of the tax rate, but does call for an increase of 2.39 cents for every $100 of taxable property valuation on the interest and sinking (I&S) side. The increase covers the first year of debt service on a $36 million road bond approved by voters in May.
The new proposed tax rate is 54.83 cents per $100, up from 52.44 cents for FY 2013. City officials say the increase will cost the average Kyle homeowner $30.15 per year. The increase will enable the city to raise $349,000 for debt service.
In addition, the budget proposal would increase water rates by 20 percent and wastewater rates by 10 percent. The increases, according to a release issued by the city, “represent the third year of a three-year plan to bring revenues from the city’s water and wastewater utility into balance with the utility’s expenses.”
The proposed $45.1 million budget does not provide for new employees or facilities, but it does allow the city to maintain present levels of programs and services while purchasing nbew equipment and police vehicles.
The city council has scheduled six more meetings specifically to discuss the budget, including a Sept. 4 meeting at which the council is expected to approve a new budget. The budget would fund city operations from Oct. 1 until Sept. 30, 2014.Email | Print