Austin City Council approves largest ever city budget at $5.9 billion. Here's what to know.
"Austin residents will see an increased city property tax rate and higher fees for electricity and water under the coming fiscal year's budget that was approved by the Austin City Council on Wednesday.
The $5.9 billion budget, the largest ever in the city's history, outlines funding for city departments and utilities, detailing everything from police funding to property taxes. Fiscal years in Austin run from Oct. 1 to Sept. 30 of the following year..."
Summary: Austin residents will see increased property taxes and higher utility fees under the newly approved $5.9 billion budget, the largest in the city's history. The budget includes a $188.02 increase to the typical homeowner's property tax bill, along with higher costs for water, electricity, and other services, totaling an average annual increase of $361.92. The budget also raises the minimum wage for city employees to $21.63 per hour and allocates significant funds to address homelessness and support public safety, including an $18.2 million increase for the Police Department. The City Council approved the budget with a 10-1 vote, with concerns over the cost-of-living crisis and the impact on the city's general fund reserves.