The Austin City Council OK’d a $3.3 billion budget Tuesday and, for the first time in five years, cut the property tax rate.
The rate will drop from 50.29 cents per $100 of property value to 50.27 cents, but most homeowners will still pay more in city taxes next year because property values are rising.
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Basics of the 2013-14 budget
• Total budget: $3.3 billion, up from $3.1 billion this year.
• Budget for the general fund, which pays for most city services, including parks, libraries and police: $799.8 million, up from $755.2 million this year.
• Property tax rate: 50.27 cents per $100 of property value, down from 50.29 cents this year.
• City tax bill for a median-value home of $185,133: $931, up from $897 this year.
• Electricity and water bills: About $189 per month for the typical household, up from $183 per month.
• Pay raises: 1.5% for police and non-public-safety employees; contract talks aren’t completed with firefighters and paramedics.
• Jobs to be added: 395