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City of Waco releases proposed budget for upcoming year: Here's what to know

Posted at 2:56 PM, Jul 08, 2024

WACO, Texas (KXXV) — Waco city leaders are working on next year's proposed budget. While the tax rate remains the same, other things are on the rise. That means you can expect to pay more for city services coming up.

Click here to read the entire proposed budget.

  • City council will be presented with the final budget on August 6.
  • They will work on any changes before adopting it at a special meeting on August 27.
  • It's expected to go into effect October 1.

BROADCAST TRANSCRIPT:

"I'm an old investment banker so I always get excited about budgeting and the budgeting process and the outlook we have on our economy, even though we perceive it as a bit of a slow down in the overall economy, there is a lot of exciting things going on in Waco," Mayor Holmes said.

With next year's proposed budget now public, people living in Waco now know how much more they can expect to pay for several city services, including water, wastewater, and street maintenance.

You'll see an overall increase of 7.82 percent in utilities, which means you should expect to pay around $243 more each year.

Mayor Holmes says this increase is still below the rate of inflation.

The city is proposing the current tax rate stay the same.

That means for a $100,000 home, you could expect to pay an extra $755 in property taxes.

Good news — if you work for the city, you may get a raise.

The budget includes a pay increase for public safety and other civilian employees.

"Even in our conservative budget this year we put a high priority on public safety and you'll continue to see great best in class city services," Mayor Holmes said.

The city says the raises will be funded by $7.6 million savings from other areas.

There are plans for some new projects including construction of a new animal hospital at the City of Waco Animal Shelter, a regional park and heritage trail and implementation of phase 1 of the downtown strategic road map.

"What we need to be is smart about our growth and we can't just spend in unplanned ways," Mayor Holmes said.

25 News will continue to breakdown details of the proposed budget.

For more information on the budget, we've posted extra documentation from the city here.

Taxpayer impact

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