Northeast San Antonio Metrocom Edition | October 2023

Government

BY JARRETT WHITENER

Cibolo residents to pay more property taxes Cibolo residents can expect to see an increase in taxes paid in fiscal year 2023-24. Despite a decrease in the tax rate—approved by Cibolo City Council on Sept. 12—residents with an average home value of $334,500 will pay about $104 more than the previous year. By the numbers The tax rate for FY 2023-24 was approved at $0.4699 per $100 valuation, which is a decrease from the FY 2022-23 rate of $0.4835 per $100 valu- ation. The average Cibolo home value in 2023 was $334,500, which was up $31,000 from the previous year average of $303,500, according to city staff. Budget explained The FY 2023-24 budget will raise $1.4 million more in property taxes than the previous year with $684,393 coming from new properties added to

FY 2023-24 tax rate declines for residents Universal City City Council approved the fiscal year 2023-24 budget on Sept. 5. The general fund is expected to have $17.64 million in revenue and about $18.89 million in expenditures. With transfers, expenditures and revenue are anticipated to balance out. What residents should know The tax rate was set at $0.517499 per $100 valuation, a decrease from FY 2022-23, which was $0.54. However, homeowners can expect to pay more in taxes due to the increase in appraised house values. The average taxable homestead value is $269,403, which results in an average tax increase of $77.35, according to city documents. Changes in taxes vary based on property value.

Breaking down the dollar How tax dollars are split between departments.

$0. 1 for economic development

$0. 20 for administration $0. 15 for public works $0. 13 for planning and building services

$0.51 for police and fire

SOURCE: CITY OF CIBOLO/COMMUNITY IMPACT

the tax roll, according to the budget. The general fund in the FY 2023-24 budget has estimated revenues of $23.3 million and estimated expenditures of $23 million, leaving the city with an increase to the balance by the end of the fiscal year, according to the budget. Overall, about $58.6 million in total revenue and $62.2 million in total expenditures is expected. City Manager Wayne Reed said each dollar the city collects is shared between city departments. “Roughly half of every dollar is just for public safety,” Reed said.

Schertz’s $118.83M budget prioritizes compensation Schertz City Council on Sept. 5 approved a $118.83 million budget for fiscal year 2023-24, which will go into effect starting Oct. 1. Budget priorities include:

Budget highlights The greatest priority was given to staff pay.

By the numbers The adopted budget projects a 9.9% increase, or $2.4 million, in property taxes than last year, with new properties contributing $554,255. What residents need to know The new tax rate will be $0.4872 per $100 valu- ation, a 7% increase over last fiscal year, according to the approved budget.

$118.83M in total expenditures

$2.4M in property tax revenue

• Staff compensation, including a 4.7% raise for Schertz employees, and increased staffing levels • Consolidated capital improvements plan • Infrastructure and new and remodeled facilities

4.7% raise for all employees

3.9% increase in revenue

SOURCE: CITY OF SCHERTZ/COMMUNITY IMPACT

New! A Community Impact Print + Digital Advertising Package

COMMUNITYIMPACT.COM