The San Marcos City Council adopted the budget and tax rate for Fiscal Year 2010 at Tuesday night’s meeting, settling on a $146,226,256 budget and a property tax rate of 53.02 cents per $100 of taxable value.
The budget represents a 0.35 percent increase from 2009, while the tax rate remains the same. FY 2010 begins on Oct. 1.
The property tax will generate $694,758 more than it generated last year, due to a 5.8 percent increase in property value. All together, property values increased $131 million, with $90.1 million coming from new development and $40.9 million coming from value increases for existing properties.
The average home in San Marcos increased in value from $118,238 to $119,462. The average tax bill for FY 2010 will be $628.85, an increase of $1.95.
The new budget maintains existing rates for water /wastewater, electricity, solid waste and recycling.
“The 2010 municipal budget reflects a strict adherence to the city council’s goals and conservative budgeting in tight economic times,” San Marcos City Manager Rick Menchaca said. “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.
The budget projected two percent increase in sales tax revenues compared to actual collections in FY 2009. Sales tax revenues represent 46.3 percent of the city’s general fund revenues.
The budget includes funding for nine new firefighters and the first year of funding for a meet and confer agreement with police and firefighters. Among the other budget highlights are fire apparatus for the downtown fire station, a decrease in the cost of wholesale electric power, incentive programs for water conservation and energy efficiency and implementation of capital projects.
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.Email | Print