DRIPPING SPRINGS — After a series of workshops, Dripping Springs City Council unanimously voted to adopt the 2024-25 fiscal year municipal budget, along with setting the tax rate at $0.1794. at its Sept. 17 meeting.
The consolidated general fund — which includes the city, parks, Founders Day and eclipse (2024) — expenditures total $14,707,607.04, while the revenue totals $15,101,619.09, according to budget documents. The balance forward is $394,012.04.
Other components in the budget outside of the general fund include the following:
• Dripping Springs Farmers Market: $89,012.58 in expenditures; $118,535.39 in revenue
• Landscaping: $27,300 in expenditures; $509,067.700 in revenue
• Sidewalk: $29,000 in expenditures; $29,828.96 in revenue
• Dripping Springs Ranch Park: $1,221,585.50 in expenditures; $1,263,278.69 in revenue
• Hotel Occupancy Tax: $1,194,007 in expenditures; $1,533,459.95 in revenue
• Visitors Bureau: $507,681.89 in expenditures; $698,323.83 in revenue
• Consolidated utility: $27,663,699.84 in expenditures; $33,897,472 in revenue
• TWDB (Texas Water Development Board): $21,005,000 in expenditures; $21,005,926.24 in revenue
• Impact fund: $670,405.60 in expenditures; $897,770.61 in revenue
• Tax Increment Investment Zone 1: $231,500 in expenditures; $706,841.05 in revenue
• Tax Increment Investment Zone 2: $136,500 in expenditures; $2,962,588.28 in revenue Debt service
• 2015: $684,900.76 in expenditures; $1,551,040.16 in revenue
• 2013: $88,487.50 in expenditures; $235,796.54 in revenue
• 2019: $1,043,533.00 in expenditures; $1,123,641.63 in revenue
• 2022: $1,191,768.50 in expenditures; $1,195,168.50 in revenue The council also unanimously voted to set the ad valorem tax rate at $0.1794 per $100 of assessed valuation, which is an increase from the current rate of $0.1718.
According to the ordinance approved by the council, the tax rate will raise more taxes for maintenance and operations than last year’s rate. It will effectively be raised by 5.41% and will raise taxes for maintenance and operations on a $100,000 home by approximately $9.20, the ordinance stated.
To view budget documents, visit www.cityofdrippingsprings.com/citytreasurer/ pages/budget-tax-rate.
Council will meet next on Tuesday, Oct. 1.
