Hutto passes budget, tax rates with no new revenue for fiscal year 2022-23

After several months of workshops and discussions, Hutto City Council voted on September 15 to pass a municipal budget and property tax rate of $0.42198 per $100 of assessment for the 2022-23 fiscal year.

The tax rate adopted is the rate without new revenue, which means that it is the tax rate at which the city would increase the same amount of property tax revenue as the previous year before taking into account the newly built properties.

This is a decrease of approximately 21.3% from the fiscal year 2021-22 rate of $0.536448 per $100 of valuation.

The rate breaks down into a maintenance and operating rate of $0.27388 used to fund most day-to-day city operations and an interest and amortization rate of $0.1481 used for utility service. the debt.

The city’s budget for fiscal year 2022-23 is $104.5 million in expenditures, with the general and utility funds accounting for $28 million and $20.6 million, respectively.

The largest category of general fund expenditures is personnel services at $13.8 million, followed by professional services at $5.5 million and capital expenditures at $4 million.

In the utilities fund, the highest expense is debt service at $9.6 million.

Officials said that going forward, budget discussions would begin earlier in the year to give city officials and members of the public more time to deliberate.

“We’ll start earlier in the budgeting process in January so it’s not a compressed schedule,” Council Member Randall Clark said.