This year marks the 20
th
anniversary of the City’s Economic Development and Community Development Corporations receiving sales tax funding. A year prior, in 1998, Cedar Park voters elected to create these corporations and redirect one cent of sales tax to fund them*. This is in addition to the one cent that goes to the City’s General Fund.
Since 1999, we’ve seen nearly
$50.2 million
in economic incentives to provide close to 9,500 jobs and create an
economic impact of more than $16.5 billion
, and funding major projects such as H-E-B Center at Cedar Park, James Avery Artisan Jewelry, Hyliion, and Firefly Aerospace. Plus we’ve seen about
$73 million
fund
major Community Development projects such as the Bell Redevelopment Project and parks and trail improvements – including Lakeline Park Phase 1. This also includes transportation projects that improve roads, intersections and traffic flow improvements to enhance public safety.
The best part? Sales tax plays a major role in our property tax rate being the lowest we’ve seen in 22 years, despite rising property values. So be sure to Buy Cedar Park! Learn more
HERE
.
*In 2018 Cedar Park citizens elected to redirect 1/8 cent from Economic Development to fund stormwater drainage. Economic Development now receives 3/8 cent of sales tax