CEDAR PARK PASSES LOWEST PROPERTY TAX RATE IN YEARS
The Cedar Park City Council has approved its lowest property tax rate in 13 years. The typical homeowner will see an increase of about $89 in taxes because of rising property values.
Cedar Park Mayor Matt Powell said at the council’s Sept. 22 meeting that the council was able to lower the property tax rate almost a cent from last year’s tax rate because of previous budget decisions made by prior councils, as well as the town’s “incredible” economy. “It almost can’t be argued that we’ve never seen a period of greater prosperity in the city,” he said.
Cedar Park has had $194 million in new taxable growth. A major contributor to the decrease in the tax rate for the fourth consecutive year is the growth in the city’s business community, according to a city news release.
Part of the local sales tax revenue expected this year — $12.57 million — will pay for more than 27 percent of the city’s general fund, said Cedar Park City Manager Brenda Eivens. The general fund, which also includes money from property taxes, pays for major services including police and fire, and amenities including parks and the library. Another $12.57 million in sales tax revenue expected this year will support economic and community development projects, Eivens said.
The city’s newly approved budget includes 17 new jobs, two new fire trucks, a new patrol car, employee pay raises and $30.2 million in voter-approved bonds. Its new property tax rate is 47 cents per $100 valuation.
The 17 new employees are five firefighters, two police officers, an police evidence technician, a drainage foreman, two drainage maintenance workers, a transportation engineer associate, a plan reviewer, a redevelopment project director, a director of neighborhood and community affairs, a parttime librarian and a part-time public safety help desk specialist.
“We are staying the course of maintaining our vibrant community with a budget that balances investments in public safety and infrastructure with fiscal responsibility and sound debt management,” Eivens said.