By Andy Sevilla
For the first time in its history, Buda has surpassed $1 billion in total taxable values due in large part to new development and increased property appraisals.
From Jan. 1, 2013, to Jan. 1, 2014, Buda grew by 15 percent; all the while building activity within the city also was on the upswing, according to City Manager Kenneth Williams.
Since 2010, the city’s population has grown by more than 39 percent; and since 2008 Buda has physically grown by almost four square miles, including limited purpose properties.
Now, Buda will collect taxes on $1,001,261,908 in taxable value in 2014, Williams told council members at their Sept. 2 meeting.
The city is expected to take in about $2.98 million in property taxes for fiscal year 2014-2015 — which is set to begin Oct. 1 — at a proposed rate of $0.2978 per $100 of property valuation.
The upcoming fiscal year will see a tax rate decrease of one one-hundredth, from 29.79 cents presently to 29.78 cents beginning Oct. 1. Council members unanimously voted in favor of the property tax rate decrease on Aug. 12.
The council is expected to approve the new tax rate, as well as the overall $20.12 million budget on Sept. 16.
The proposed budget calls for a five-percent sanitation rate increase, a 2.5 percent water rate increase, seven new positions, employee raises, a new employee longevity benefit, capital improvement projects, vehicles and new equipment.
The sanitation cost increase is being proposed to keep up with price increases Texas Disposal Systems is handing down to the city. The five-percent increase should continue increasing by the same percentage every year to cover cost from the service provider, Williams said in budget documents.
Buda Police Department is slated to take on two new police officers and a detective for a total cost of $192,945. The city’s water and wastewater departments will share two new light equipment operators at $76,309. The parks department was funded a new maintenance worker at $36,005.
The city also will hire a new water specialist at a cost of $108,224.
Employee raises will be based on a new salary survey, or will be apportioned a three-percent minimum pay increase, according to the proposed budget. The total wage increases, including the new positions, will cost a half-million dollars more than last year.
Longevity pay, which will be added as a new benefit Oct. 1, will provide employees with an additional $8 per month for up to 20 years.
Among the capital improvement projects, work to refurbish streets in the Bonita Vista subdivision should soon begin at a cost of $2.9 million. Contractors are expected to begin erecting barricades and erosion controls this month, officials said in budget documents.
Officials also will commission a drainage utility study, a traffic study at Cabela’s Drive, a MS4 web compliance tracking system, Drainage Master Plan Phase II, the Bradfield Park trail project, rewrite the city’s unified development code, create a downtown master plan, provide wayfinding signage, restore Clint’s Cabin and repair several streets, among other initiatives.
Presently, the city has just over $24 million in principal debt, which includes certificates of obligation and general obligation bonds dating back to 2006. The interest on the debt is roughly $7.5 million, according to a recent debt accounting by Buda Finance Manager Sidonna Foust.
By the end of the present fiscal year, Buda will have paid $2.09 million toward principal and interest debt. In fiscal year 2014-2015, the city is forecasted to pay down $2.2 million.
