by Chase Rogers
DRIPPING SPRINGS – Dripping Springs city council members unanimously voted to set the tax rate for the 2020-21 fiscal year on Sept. 8 at $0.19 per $100 of taxable valuation.
The new rate, though it is the same that was approved last year by the council, is expected to produce an additional $150,772 in property tax revenue during FY 2020-21 due in part to new property construction and plots brought within the city throughout the year.
For a house valued at $441,550, the median value for a home in 78620, owners should expect to pay about $840 in city taxes.
Coupled with the new rate, the city’s general fund budget was approved, yielding $7,600,214 in revenue and expenditures – about $200,000 higher than the previous year’s budget. The budget includes several transportation and park improvements. Some of the highlighted projects include:
Transportation
This budget provides for $425,000.00 in roadway maintenance, repair and construction. This is the first year that solid waste revenues will be used to increase the roadway budget.
The city remains committed to traffic relief and has provided additional funds for major transportation improvements.
Parks
$172,000 in park improvements is slated to be completed in 2021. This is entirely funded by Parkland Dedication fees paid by developers to be used in developing park facilities.
For questions or assistance with tax calculations visit https://hayscountytax.com/#/ or contact Hays County Tax Assessor Jenifer O’Kane at [email protected].
