CITY & COUNTY
News from Comal County & New Braunfels
New Braunfels lowers tax rate for FY 2022 23
LOWER RATE, HIGHER REVENUE
BY ERIC WEILBACHER
The city’s tax rate was lowered from $0.4754 per $100 of property value to $0.4139. The rate is the largest reduction by the city since 1996, but due to higher property appraisals, e ectively generates 14.5% more revenue than in FY 2021-22. FISCAL YEAR TAX RATE CERTIFIED PROPERTY VALUES
“This rate is higher than the no-new-revenue rate; it is going to generate a higher levy, total property taxes from last year to this year,” Werner said. The no-new-revenue rate would have clocked in about $0.02 lower than the adopted rate at $0.3909 per $100 valuation. The scal year 2022-23 budget clocked in at $312.1 million in expenditures, or a 14.5% increase over the FY 2021-22 budget. The city expects to pay for that through a combination of revenue esti- mated at $175.62 million, beginning capital reserves of $108.48 million and beginning fund reserves of $84.57 million. That would leave the city with a fund balance of $56.58 million in reserves. The total New Braunfels city budget for scal year 2022-23 is $368.67 million. Copies of the proposed city budget can be found at the New Braunfels Public Library, 700 E. Common St., and on the city’s website, www.newbraunfels.gov.
NEW BRAUNFELS City Council provided unanimous nal approval of the scal year 2022-23 budget and property tax rate at its regular Sept. 12 meeting. They were preliminarily approved by unanimous vote at a special meeting Sept. 8. A property tax rate of $0.4139 per $100 valuation was passed—a decrease of $0.0615 o the total tax bill, mostly from the maintenance and operations portion of the tax rate—according to city docu- ments. The FY 2021-22 tax rate is $0.4754. Assistant City Manager Jared Werner said the decrease in the tax rate is the largest since 1996. Due to increases in property values, however, the lower rate is 5.9% higher than a tax rate that would generate no new revenue, according to the city. The tax rate puts New Braunfels below the average for other “benchmark” cities, which is a rate of $0.478.
2018 19
$0.4882
$820.9 MILLION
2019 20
$0.4882
$918.8 MILLION
2020 21
$0.4832
$919.9 MILLION
2021 22
$0.4754
$790.3 MILLION
$0.4139
$1.88 BILLION
2022 23
SOURCES: CITY OF NEW BRAUNFELS, COMAL APPRAISAL DISTRICT, GUADALUPE APPRAISAL DISTRICT COMMUNITY IMPACT
The EDC is a nonpro t organization chartered by the city that routinely enters professional services agree- ments with the chamber. At the prior meeting, Council member Lawrence Spradley asked questions about the way the budget is written, why it is a three-year renewal instead of a two-year like the most recent contracts and whether there was a reason a termination clause was changed from previous contracts with the chamber. The contract originally included new language requiring an agreement between two parties prior to termination. Jonathan Packer, president of the GNBCC, said the chamber was exible on the frequency of the contract as well as the di erence in termination clauses from previous contracts. The contract allots for funding
from the EDC of $550,000 in 2023, $600,000 in 2024 and $650,000 in 2025, and goes toward chamber proj- ects such as attracting employers and supporting the success of startups. Packer said the majority of the funding during that time period is being generated through private capital fundraising, with a goal of automatic renewal or a 90-day written notice by either party to terminate. “The important work of economic development, by its very nature, can only be done in public-private partnership,” Packer said. “[It] is the process of providing opportunity for people to get a better job, grow a business, provide for their family. And this only happens when public and private work well together.” $750,000 by the end of 2022. The contract has a two-year
Jonathan Packer, CEO of the chamber, presented the projects to the city council Sept. 26.
After postponement, City Council renews chamber of commerce contract
BY ERIC WEILBACHER
New Braunfels Chamber of Commerce with Mayor Rusty Brockman absent from the meeting. New Braunfels City Council previ- ously voted to postpone the renewal Sept. 12 until the council received clarity on items in the contract.
NEW BRAUNFELS City Council voted unanimously at its Sept. 26 meeting for the renewal of a three- year economic development contract between the New Braunfels Economic Development Corp. and the Greater
Call today to schedule an appointment
LICENSE #27092E | TACLB27092E
20
COMMUNITYIMPACT.COM
Powered by FlippingBook