GEORGETOWN, Texas (KXAN) — The City of Georgetown approved its 2021 Fiscal Year budget on Tuesday, which includes a decrease in property tax, according to a City of Georgetown press release.
The 2021 city budget totals $396 million, making it 10% lower than the 2020 Fiscal Year budget, according the City of Georgetown Finance and Administration website.
In the approved budget, the city’s property tax rate decreased by $0.002, making it the lowest property tax of Austin-area cities with a population greater than 20,000, according to the press release. With the property tax decrease and decline of value average of taxable homestead property, homeowners in Georgetown can expect to pay $34 less on their property tax in the upcoming year, according to the city.
The City of Georgetown also aims to maintain its city services, such as transportation and public safety improvements in response to COVID-19, according to the press release. The 2021 budget includes $77.4 million investments in transportation, water and wastewater and electricity. The General Fund, which helps pay for services like libraries, parks and recreation and public safety increased by 3.7%, according to the release.
The 2021 budget also took into consideration responses from a public engagement survey in June, according to the press release. The majority of 650 residents who took the survey said they “did not support changes to property taxes or user fees” and “supported increased funding to manage traffic and infrastructure/roads.”
The budget also approved the opening of two fire stations in the next year, according to the press release.