The Lakeway Metropolis Council voted unanimously on Monday to approve a $17.7 million price range for the 2023 fiscal yr and the bottom tax price within the metropolis’s historical past.
The accredited tax price of $0.1290 is 17% decrease than final yr’s tax price of $0.1545. Metropolis spokesman Jarrod Clever stated this variation will lead to a mean $40 discount for the typical house owner’s annual tax invoice. The no new income tax price, which is the speed that may elevate the identical quantity of property tax income as final yr, can be $0.1290.
Metropolis officers stated the proprietor of a mean house value a taxable worth of $692,587 this yr pays an estimated $894 with a homestead exemption underneath the proposed tax price. The proprietor of a mean house valued at $604,530 final yr paid about $934 with a homestead exemption.
In keeping with town, the fiscal yr 2023 price range tasks income at $17,659,712 and expenditures at $17,824,660.
Officers stated the accredited price range features a cost-of-living adjustment for all metropolis positions, three alternative pickups and new positions together with an assistant parks director, a multimedia specialist and crew chief on the Lakeway Exercise Middle.
The council additionally reviewed the fiscal yr 2022 monetary report as of Aug. 31 and located town went over the earlier yr’s budgets by $1,830,054.As a result of “wage financial savings,” the expenditures price range had a decrease constructive variance than the income price range. Town remains to be on the lookout for a finance director and emergency administration coordinator.
Different gadgets approvedby the council included a particular use allow for a short-term rental at 154 World of Tennis Sq. and sharing the price of a visitors mild with The Hills.
One other accredited modification was for land-use restrictions, streets and shared-use paths for the Tuscan Village deliberate unit improvement. Debate arose over making all housing models obtainable with no age restrictions, undoing a tenant requirement of being over the age of 55.
The modification additionally requested to extend the unbuilt the rest of Lohmans Spur from two lanes to 4, in addition to constructing a 10-foot concrete shared use path.
In keeping with the workers report, the Zoning and Planning Committee really useful approval to the Metropolis Council by a vote of 4-2 on Sept. 7.
Throughout a public listening to through the council assembly, resident Nina Davis stated she hoped the council doesn’t take away the age restriction and that households will generate extra visitors.
“In case you drop the age 55, it’s gonna be much more dense, much more visitors,” Davis stated. “It is also an ideal place for senior residing and I might hate for our senior neighborhood to be denied that.”
The council voted 4-2 for the modification, with the stipulation that the cottages could have no age restriction however half of the residences will likely be restricted to these ages 55 and older.
Close to the tip of the assembly, the council continuedits dialogue on town’s no-thru vans ordinance and postponed voting on an modification referring to the operation of golf carts till the assembly in October.