Approved Budget for Fiscal Year 2023-2024
Kyle City Council unanimously approved the city’s budget for Fiscal Year 2023-24 during their Tuesday, Sept. 19 meeting.
The $272.5 million budget covers serious investments in infrastructure and services while lowering the current property tax rate to $0.4693 per 100 dollars or taxable valuation – a decrease of $0.0389 or 7.65% from the City’s current adopted tax rate. The previous property tax rate was $0.5083 per $100 taxable valuation.
The approved budget is based on goals identified by Council and staff during budget work sessions. Those priorities include increased street maintenance and rehabilitation, strategic planning, economic development, small business retention, increasing community engagement and enhancing public safety.
This year’s Capital Improvements Program (CIP) includes a total of $176.4 million in long-term investments in our city, which include:
- $31.1 million for downtown revitalization and $75,000 for a Downtown Façade Grant for businesses;
- $21.4 million in water system improvements;
- $2.3 million for the reconstruction of Goforth and Heidenreich and $1 million for increased street maintenance;
- $5.7 million for parks improvements;
- $4 million to create an Infrastructure Plan for development of retail centers and grocery stores on the East side of the city;
- $150,000 in small business support;
- 38 new positions throughout the city from police, public works, engineering and communications.
Another key component of the budget is the $55.8 million for the General Fund, that provides services like parks and recreation, public safety, planning and the Kyle Public Library.
Prior to the approved budget’s final passage, City Council conducted a total of five budget workshops that included public hearings where residents were able to communicate concerns about the budget. City Council also heard presentations from city staff on each department’s proposed budget.
The budget minimizes costs and fee increases during a high-inflation environment, prioritizing cost containment and organizational efficiency while ensuring the city’s goals are met based on public input from our annual community survey.
The approved budget includes no increase in water service rates, wastewater service rates or storm drainage fees, and only a 2.52% increase in solid waste service rates per the City’s contract with Texas Disposal Systems. Other fees and charges for various city services remain the same.
The City of Kyle's portion of a homeowner’s property tax bill is only about 20% of the total tax bill based on current tax rates. The other 80% of the tax bill is for property taxes charged by the other taxing jurisdictions including the school district, Hays County, emergency services districts, Austin Community College, conservation and ground water districts.
Due to economic development, strong sales tax revenues and other fees, the owner of an average homestead valued at $338,506 will pay $123.57 per month in property tax to the City of Kyle.
FY2023-2024 Budget Timeline
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Saturday, May 13, 2023 - Council Budget Worksession #1 (8:00 a.m.) - VIDEO & PRESENTATION
- City Manager and department directors present new budget needs to City Council.
- City Council provides feedback, project priorities, and direction to City Manager for the development of the City's FY 2023-2024 Proposed Operating & CIP Budgets.
- Wednesday, May 31, 2023
- Deadline for department directors to submit proposed FY 2023-2024 line-item budget to Finance for Council Budget Worksession #2 on July 8, 2023.
- Monday, June 12, 2023 Through Friday, June 23, 2023
- Department directors meet with City Manager to review and finalize CYEs, proposed line-item budgets, CIP spending plan, and revenue projections.
- Saturday, June 24, 2023 and Sunday, June 25, 2023 - City Council Visioning Workshop (8:00 a.m.)
- Condensed City Council Visioning Worksession
- Review and priorization of Capital Improvement Projects (CIP)
- Saturday, July 8, 2023 - Council Budget Worksession #2 (8:00 a.m.) - VIDEO & PRESENTATION
- City Manager and department directors present preliminary proposed Operating and CIP Budgets for FY 2023-2024 to City Council.
- City Council provides feedback and direction to City Manager for final changes to the City's Proposed Budget for FY 2023-2024.
- Tuesday, July 25, 2023
- Deadline for Chief Appraiser (HaysCAD) to provide Certified Property Tax Valuations to City.
- Thursday, July 27, 2023
- City Manager sends proposed line-item Budget and CIP Spending Plan for FY 2023-2024 to City Council.
- Saturday, July 29, 2023 - Council Budget Worksession #3 (8:00 a.m.) - VIDEO & PRESENTATION
- City Manager presents the Proposed Operating and CIP Budgets for FY 2023-2024 to City Council.
- Thursday, August 10, 2023 - Special Called Budget meeting (6:00 p.m.) - VIDEO & PRESENTATION
- Receive a presentation, hold a discussion, and provide direction to the City Manager regarding consideration of a defeasance option for a portion of the City's outstanding tax-supported bonds
- Consider approval of a revised calendar for public hearings and reading of the Ordinances for the adoption of the City's budget and property tax rates for Fiscal Year 2023-2024.
- Tuesday, August 15, 2023 - Budget Worksession #4 (7:00 p.m.) - CANCELED
- Public Hearing on Budget & Tax Rates
- 1st Reading: Adoption of Budget Ordinance
- 1st Reading: Adoption of Property Tax Rate Ordinance
- Thursday, August 24, 2023 - Council Budget Worksession #5 (6:00 p.m.) - CANCELED
- Public Hearing on Budget & Tax Rates
- 2nd Reading: Adoption of Budget Ordinance
- 2nd Reading: Adoption of Property Tax Rate Ordinance
- Tuesday, September 5, 2023 - Budget Worksession #4 (7:00 p.m.) - VIDEO
- Public Hearing on Budget & Tax Rates
- 1st Reading: Adoption of Budget Ordinance
- 1st Reading: Adoption of Property Tax Rate Ordinance
- Tuesday, September 19, 2023 - Council Budget Worksession #5 (7:00 p.m.) - VIDEO
- Public Hearing on Budget & Tax Rates
- 2nd Reading: Adoption of Budget Ordinance
- 2nd Reading: Adoption of Property Tax Rate Ordinance
