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The original item was published from 8/11/2022 1:18:00 PM to 8/11/2022 1:18:57 PM.
Posted on: August 10, 2022
[ARCHIVED] City Council Reviews Fiscal Year 2023 Budget, Considers Lower Tax Rate
Cleburne City Council is in the process of adopting its Fiscal Year 2023 budget, which continues its conservative approach to revenues and expenditures and invests in infrastructure, services, and economic growth.
City Council held a budget workshop at its Aug. 9 meeting. The annual budget outlines the City’s expenditures and revenues for the upcoming fiscal year, which begins Oct. 1, 2022.
See the video below of the workshop.
The budget includes a lower proposed tax rate. At $0.640476 per $100 of valuation, the proposed ad valorem tax rate represents a decrease of $0.05 from our current tax rate or approximately 5.-cents per $100 of valuation. The City is able to again reduce its ad valorem tax rate due to new development, cost savings initiatives, a reduction in our debt payment, and an increase in existing property values. With the proposed reduction, over the last 5-years, the City Council will have decreased the ad valorem tax rate by 16.-cents per $100 of valuation.
The $130 million budget continues City Council’s goals including a focus on proactive infrastructure projects, maintaining safe and clean neighborhoods, economic development, building a strong workforce, and enhancing the level of care and maintenance for City facilities, grounds, and equipment.