By Sahar Chmais
Buda City Council approved the city’s Fiscal Year 2021-22 budget with the tax rate set at $0.3423 per $100 of value, remaining the same as 2021’s rate.
State law considers anything above the no new revenue rate to be a tax increase. Buda’s tax increase would be 9.26%, depending on the increase in property values.
Taxpayers will pay more this year due to the increase in property valuation, with an increase of $83.38 for the average homeowner. Last year, the average home value was $268,567, which jumped to $292,927 in 2021, a 9% increase.
Buda will generate $400,000 more in revenue for the upcoming year compared to 2021; the upcoming tax revenues for FY2021-22 would be more than $7 million. The money will fund the city’s municipal operations along with the principal and interest payments of the city’s debt obligations.
Water and wastewater services will also undergo a rate increase.
Buda’s wastewater treatment plant has been expanded to keep up with the city’s growth, causing a 10% rate increase. Water services will increase by 13% due to an expansion deal with the Alliance Regional Water Authority (ARWA), to serve the ongoing population growth across Hays County. Additionally, there will be a $2 increase for expanded waste and recycling services.
Residents will receive a notice in their utility bills of these changes.
