City council approves proposed tax rate and budget

On Tuesday, Sept. 6, the Waxahachie City Council approved the proposed tax rate and budget for fiscal year 2022-23 with a 3-1 vote, with council member Billie Wallace voting in dissent. Council member Travis Smith was absent.

Senior director of finance Chad Tustison explained how the budget is created after multiple stakeholder meetings with city staff and city council, as well as work sessions and public hearings open to the public.

The proposed tax rate is 63 cents per $100 valuation, three cents lower than the 2021-22 rate. The rate includes a debt service rate of 22.35 cents and a maintenance and operations rate of 40.65 cents.

Increases in the budget will provide funding for public safety, street and sidewalk installation and upkeep, maintenance and improvements of the parks and trails and “continued support of the city’s capital improvements program,” according to city staff.

The fiscal year for the budget and tax rate begins Oct. 1.

Originally published September 7, 2022 - https://www.waxahachiesun.com/business/city-council-approves-proposed-tax-rate-and-budget/article_ad84d4d0-2ed8-11ed-9967-a30e95f82244.html