Kirk Preston Watson - Mayor of Austin, Texas | Twitter
Kirk Preston Watson - Mayor of Austin, Texas | Twitter
The Austin City Council has adopted a $5.9 billion budget for Fiscal Year 2024-2025, emphasizing community-focused investments.
The adopted budget incorporates the Austin City Manager’s proposed budget presented last month, while adding several investments and directions to address homelessness, public safety, parks maintenance, and sustainability.
"Austin's 2024-2025 budget is a strategic blueprint that balances the city's immediate needs with long-term vision, prioritizing investments that reflect the values and aspirations of our community," said Austin City Manager T.C. Broadnax. "By focusing on sustainability, equity and resilience, we are committed to ensuring that Austin remains a livable and welcoming city for all."
The General Fund budget is $1.4 billion, and the Capital Budget includes $2.2 billion in planned spending.
Council members also approved several amendments and directives as part of the adopted FY 2024-25 budget, including increased investments to support various initiatives.
The adopted property tax rate is 47.76 cents per $100 of taxable value. The typical Austin homeowner will see an increase of $15.67 per month or $188.02 per year in the City's portion of their annual property tax bill.
City rates and fees for services such as electricity, trash service, water, drainage, and transportation user fees will rise due to escalating operations costs and increasing service demands from a growing population. The increase for the typical Austin taxpayer is estimated at $30.16 per month or $361.92 per year.
The Council's approval today follows several months of stakeholder engagement, including district community meetings, public hearings on the budget, and a public survey.
The approved budget document is scheduled to be published by October 1, 2024.
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