AUSTIN, Texas – In a job session on Tuesday, Austin City board obtained a five-year economic projection for the city’s budget plan.
What we understand:
Estimates reveal there can be a shortage of $33.4 million in FY 2026 and $79.9 million by FY 2030.
The city claims this is the outcome of the state passing a reduced real estate tax earnings cap and reduced sales tax obligation earnings. Shortages can cause greater real estate tax and energy costs.
” This projection explains the headwinds the city’s basic fund will certainly be encountering in the coming years,” mayor T.C. Broadnax stated.
You can share your ideas in an online study as the city generates following year’s budget plan. The study will certainly be readily available with very early May.
For even more details, click on this link.
The Resource: Details from the Austin City Council
