The City of Round Rock is regularly recognized for its outstanding work, including fiscal stewardship. The City’s annual budget makes it all possible by drawing from our City Council‘s strategic planning and our strong track record of fiscal responsibility.
About the Adopted FY 2023 Budget
Fiscal Year 2023 will take place Oct. 1, 2022 through Sept. 30, 2023. The Round Rock City Council approved Thursday, Sept. 8, 2022, a $555.5 million budget and tax rate of $0.342 per $100 of valuation for Fiscal Year 2023. The Fiscal Year 2023 budget focused on infrastructure spending and new programs designed to meet the demands of a growing community. The budget included a record amount for road construction and additional public safety staff to deal with increasing challenges faced by residents.
Helpful Documents for FY 2023 Budget
FY 2023 Adopted Budget Breakdown
| Total Budget for FY 2023 | $555.5 million |
| General Fund | $148.2 million |
| Total Community Investment Program (CIP) | $267.5 million |
| All Other* | $139.8 million |
*Includes Water and Wastewater Utility, Hotel Occupancy Tax, Stormwater, Type B (transportation and economic development sales tax), and other special revenue funds.
Property Tax Rate
On Sept. 8, City Council adopted a property tax rate of 34.2 cents per $100 of valuation for Fiscal Year 2023.
At the adopted rate, the owner of a median taxable value home of $369,169 would, on average, pay $1,263 next year in City taxes, which an increase of $5 per month over the current rate. However, many homeowners with homestead caps, which limit taxable values from rising above 10% each year, may actually see a decrease in taxes paid to the City this year due to commercial and non-homesteaded properties paying a significantly larger share of property taxes due to rising valuations and growth.
This adopted tax rate is lower than in previous years, and it’s the lowest adopted among cities in our area; however, the Fiscal Year 2023 adopted rate is higher than the “no new revenue” rate of 32.6 cents, which would raise the same amount of revenue as last year on existing property based on this year’s property valuations. The additional 1.6 cents is needed to pay for the final $21.7 million in bonds for the new Library approved by voters in 2013, as well as increased resources for public safety.
More information about local entities’ property tax rates, including how much you would owe each taxing entity under their adopted tax rates, can be found at williamsonpropertytaxes.org for Williamson County residents and travistaxes.com for Travis County residents. Below is also a link to a City of Round Rock tax calculator that allows you to type in your taxable value and see how much of your taxes will go to each City service.
Timeline for Adopted FY 2023 Budget, Tax Rate
The following timeline includes the discussion and action that will take place for the FY 2023 budget, which is Oct. 1, 2022 through Sept. 30, 2023:
- JULY 25, 2022 — Williamson Central Appraisal District and Travis Central Appraisal District certify tax rolls
- JULY 26, 2022 — City Council holds packet briefing and budget work session on taxable values
- JULY 28, 2022 — City Council holds annual budget workshop and vote to approve FY 2023 operating budget for the Round Rock Transportation and Economic Development Corporation (Type B)
- AUG. 9, 2022 — City Council holds packet briefing and budget work session on the proposed budget and tax rate
- AUG. 11, 2022 — Council holds vote to publish and propose maximum tax rate, set public hearing dates
- AUG. 23, 2022 — City Council packet briefing and work session on financial policies, the proposed budget and tax rate
- AUG. 25, 2022 — City Council holds budget and tax rate public hearings, first reading of tax rate and budget ordinances, and reviews and adopts financial policies
- SEPT. 6, 2022 — City Council packet briefing and work session on the proposed budget and tax rate
- SEPT. 8, 2022 — City Council holds vote on final adoption of tax rate and budget ordinances, as well as ratifying the property tax rate and an authorized purchases list
Strategic Plan Goals
The City’s Strategic Plan, updated annually by the City Council at its annual retreat in February, is implemented through the budget process and shapes the City’s priorities. Explore the six strategic goals below by hovering over the icons:
Fiscal Year 2023 takes place Oct. 1, 2022 through Sept. 30, 2023. The Round Rock City Council approved Thursday, Sept. 8, 2022, a $555.5 million budget and tax rate of $0.342 per $100 of valuation for Fiscal Year 2023. The Fiscal Year 2023 budget focused on infrastructure spending and new programs designed to meet the demands of a growing community. The budget included a record amount for road construction and additional public safety staff to deal with increasing challenges faced by residents.
The property tax rate for the Fiscal Year starting Oct. 1, 2021, is $0.397 per $100 of valuation, 4.2 cents less than the FY 2021 City property tax rate of $0.439. However, the rate is an increase of 1.0 cent, or 2.5% above the No New Revenue rate of $0.387441, which is the rate that generates the same amount of revenue as the previous year based on the growth in property values from the previous year.
The increased tax rate provided additional funding to pay for the City’s road expansion program, Driving Progress.
The owner of a median taxable value home will see a property tax increase of approximately $2 per month. To calculate the impact to your tax bill, visit the truth-in-taxation site for your county below. These sites will calculate your tax rates for all taxing entities, and the City’s tax rate will be labeled “City of Round Rock.” All other taxing units pass their own tax rates.
Check out our series of blog posts about key aspects of the FY 2022 budget and tax rate. We’ll be updating this soon with more blogs about the FY 2023 budget process and proposed tax rate:
Budget ensures strategic priorities kept in motion
Leveraging local sales taxes pays off for City homeowners
Aggressive road building program requires slight tax increase
Proposed budget devotes $37 million to police, a 7% increase
Budget proposal includes major infrastructure investment
