Rosenberg City Council adopted a new budget and tax rate for the 2023 fiscal year during a regular meeting on Tuesday, Sept. 6. The new property tax rate is $0.355 per $100 valuation; a $0.025 reduction from last year’s tax rate and the 10th consecutive year the tax rate has been lowered.
The total budget, which was formally submitted by City Manager John Maresh, was in the amount of $88.1 million. This amount includes $75.4 million in total operating expenditures for the various funds and departments, as well as $12.7 million in capital expenditures.
Key highlights of the FY 2023 Budget, which will go into effect October 1, 2022, include:
- $0.025 property tax rate cut
- $5.4 million reduction in debt
- $1.5 million early payoff of callable debt
- $350,000 in interest savings due to early payoff of callable debt
- A debt service balance of $37.7 million – the lowest debt balance since 2009
- Allows a cash flow of $4.8 million for a new water well
- Provides a cost of living and merit increase for all full-time employees
- 5 new full-time positions and 2 new part-time positions
- Increased the residential homestead exemption to highest level allowed by law to 20% of the appraised value (from 15%) or a minimum of $5,000
- Maintains the disabled persons and over 65 exemptions at $75,000
Voting in favor of the budget were: Mayor Kevin Raines, Mayor ProTem and Council Member District 2 Susan Euton, Council Member At-Large Position 1 Marc Morales, At-Large Position 2 Alicia Casias, Council Member District 3 Hector Trevino and District 4 George Zepeda. Voting against the budget was Council Member District 1 Keith Parker.
Voting in favor of the tax rate were: Mayor Kevin Raines, Mayor ProTem and Council Member District 2 Susan Euton, Council Member At-Large Position 1 Marc Morales, At-Large Position 2 Alicia Casias, and Council Member District 1 Keith Parker. Voting against the tax rate were Council Member District 3 Hector Trevino and District 4 George Zepeda.
For more information about the FY2023 Budget, visit the City’s website at rosenbergtx.gov/budget or call the City’s Finance Department at 832-595-3350.