The documents below are intended to serve as easy-to-understand guides for the public on important information regarding this year’s proposed budget and tax rate.
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:
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.