Categories: Breaking NewsEconomynewsPolitics

Georgetown City Council Approves New Budget and Tax Cuts

The Georgetown City Council engages in discussions over the new budget and community enhancements.

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News Summary

Georgetown residents can look forward to a new $879 million budget approved by the City Council for Fiscal Year 2025. While property taxes will decrease to 36.47 cents per $100 valuation, the average tax bill is expected to rise slightly due to increasing property values. Key investments will focus on infrastructure, public safety, and new community spaces, including parking expansions and a festival area. Additionally, Georgetown is introducing paid parental leave for city employees, aiming to enhance work-life balance and community welfare.

Major Changes Ahead in Georgetown: New Budget, Tax Cuts, and Community Improvements!

Attention all residents of Georgetown! Buckle up for some exciting news coming out of the City Council. On January 27, 2025, the council rolled out a brand-new budget for Fiscal Year 2025, totaling a whopping $879 million. Yes, you read that right! With this budget, the city is gearing up for some major developments while also bringing some relief to your wallets.

Property Taxes Take a Dive!

Georgetown residents can rejoice as the property tax rate is officially dropping to 36.47 cents per $100 valuation. That’s a few cents less than before and is one of the lowest rates among comparable cities in the Austin area with populations over 20,000. However, here’s a heads up—while the tax percentage is decreasing, the average property tax bill is projected to see a modest increase of around $32. Why? Because property values in our beloved city are on the rise!

Investments That Matter

What’s most exciting is how the city plans to use this budget. The focus is geared towards significant investments in infrastructure, public safety, and enhancing customer service. Mayor Josh Schroeder has made it clear that this budget reinforces the city’s commitment to future endeavors in transportation and utility infrastructure. This is all about making sure our city keeps pace with the rapid growth we’ve been experiencing.

Parking Woes? Not Anymore!

downtown parking garage that’s currently under construction, set to add an impressive 315 spaces by the end of 2025. And there’s more! An additional parking garage is on the horizon as part of the updated downtown master plan to keep up with our city’s ongoing growth and popularity.

New Spaces for Fun and Festivities

But wait, there’s even more en route for our community! Georgetown has plans in motion to create a festival space near the library and City Hall. This space is specially designed for hosting special events and outdoor programs, featuring a beautifully designed outdoor lawn and a performance venue for community activities. It’s a perfect place for family gatherings, concerts, and much more!

Enhancing Work-Life Balance

paid parental leave for city employees. This step aligns Georgetown with regional trends and responds to the needs of our workforce. Happy employees mean a thriving community!

Final Thoughts

In summary, while the budget is substantial at $879 million, it promises critical investments that cater to the city’s growth demands. From lowering the property tax rate to improving public services and amenities, Georgetown is setting itself up for a brighter future. Residents should be excited about these changes that aim not just at immediate needs, but at ensuring our city remains a great place to live for years to come!

So grab your calendars, look ahead to 2025, and stay tuned as Georgetown paves the way for a dynamic future!