No Property Tax Increase for the Average Cedar Park Homeowner

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No Property Tax Increase for the Average Cedar Park Homeowner

(Credit: City of Cedar Park)
 

The Cedar Park City Council adopted ad valorem property tax rate of 44.9 cents for every $100 of property valuation – representing a more than 4/5 cent decrease from last year’s 45.750 cents – at its September 13, 2018 Regular City Council Meeting.  Combined with the new homestead exemption that City Council unanimously passed last spring, the average Cedar Park homeowner will not see an increase in his or her property taxes paid to the City of Cedar Park in 2019.  This is also the sixth consecutive year City Council has lowered the tax rate and it is the lowest Cedar Park has seen in 16 years. 

 

With the new tax rate City Council passed a $56.2 million General Fund budget for FY 19.  This budget features a continued commitment to public safety, transportation projects to improve mobility and other community enhancements, while maintaining core services.  Half (50 percent) of the General Fund operational budget goes towards public safety.

 

The new budget includes $15.7 million in capital projects, many funded by Type B community development from sales tax, such as additional sidewalks, the expansion of bike lanes, Brushy Creek Sports Park improvements, recycling at City parks, and utility-funded projects for various water and wastewater infrastructure improvements.  The theme of the budget is Making Connections. 

 

City Manager Brenda Eivens says, “This structurally balanced budget truly makes connections between the expectations of our residents and the goals of our City Council: safety, mobility, service delivery, economic development and high quality of life.   Cedar Park is a vibrant, maturing City that has experienced steady growth over the past several years.  This budget delivers value and protects our community assets for which we are known, from our robust parks system to public safety excellence.”

 

The FY 2019 budget also reflects the beginning of payments on voter-approved bonds taken down in 2018. Residents will see work on several of these major voter-approved bond projects including Anderson Mill Road Phase II, the extension of New Hope Drive to Sam Bass Road, the Bell Boulevard roadway realignment project, Phase One development of Lakeline Park, and the beginning of design work for a new Library. 

 

New FY 2019 budget information will be updated this week on www.MyCedarParkBudget.com, where you will be able to see highlights of the budget and gain a better understanding of the budget and what all your property tax dollars support.  There you’ll find animated illustrations, interactive explanations, and a property tax calculator – in which you can enter your home’s assessed value and instantly see a chart that shows exactly where your property tax dollars go.  

 

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