Home 2017-09-19T13:48:14+00:00

Welcome to

My Cedar Park Budget

This website is dedicated to providing you with highlights from the City of Cedar Park FY18 budget.

NEXT IMPORTANT DATE //

October 1, Fiscal Year 2018 Begins

Introduction

Cedar Park has been named one of the most desirable places to live. One of the safest places in Texas. One of the best places for business. And one of the best places to raise a family.

As stewards of your public dollars we take great pride and responsibility in creating a City budget each year that helps make Cedar Park an even better place for you and your family. From providing important services such as public safety, to managing and funding necessary capital improvement projects, we’re working to exceed your service level expectations while managing a low tax rate.

MyCedarParkBudget.com is a special place, too. Here, you can see how your tax dollars are invested to advance our community’s priorities and shape our City’s future. Go ahead. Scroll down. Click around. We’re glad you visited.

Cedar Park Collage

Cedar Park Core Values

Core Values

Budget Timeline

August 10

Regularly Scheduled
City Council Meeting
FY 2018 Proposed Budget
presented to City Council;
Max tax rate* set at
$0.4600 per $100 valuation

August 21

Budget and Tax
Notices in Newspaper

August 24

Regularly Scheduled
City Council Meeting
Public Hearing #1

September 7

Special Called
City Council Meeting
Public Hearing #2

September 14

Regularly Scheduled
City Council Meeting
Adoption of Budget

Tax rate set at
$0.45750 per $100 valuation

The FY18 rate has been set to $0.45750 per $100 valuation
and is a $0.0125 cent reduction from the City’s FY17 rate of $0.47000.

Budget Fundamentals

What is “ad valorem?”

What is “ad valorem?”

Ad valorem is Latin for “according to value”, and is also a term used to describe property tax.

How is a property tax rate determined?

How is a property tax rate determined?

In keeping with our core values of fiscal responsibility and innovation, we run a lean machine in Cedar Park! Each year, our City Council looks at the City’s expenses, reviews the priors year’s tax rate, examines assessed property values, sets a budget and determines the rate needed that will bring in the amount needed to cover those expenses.

How is a property tax collected?

How is a property tax collected?

The County Tax Assessor-Collector collects your property taxes for the City, County, school district, college district and other taxing entities, then sends those tax dollars to each of these entities.  Only about 20% of your total tax bill goes to the City of Cedar Park.

What is the tax revenue used for?

What is the tax revenue used for?

Quite simply, the revenue collected by the City of Cedar Park is used to provide services and infrastructure necessary for the City to function.

What is a Fiscal Year and when does it begin?

What is a Fiscal Year and when does it begin?

A Fiscal Year, commonly denoted “FY”, is a 12-month period for taxing and/or accounting purposes. For the City of Cedar Park the Fiscal Year begins October 1 and ends September 30 of the following year.

Where can I find the FY 2018 proposed budget?

Where can I find the FY 2018 proposed budget?

You can see the FY 2018 proposed budget here.

FY18 Budget Highlights

Property Tax Rate Reduction Due to Growth

Cedar Park has experienced rapid growth, not only in population, but in our business community as well. This has allowed us to see an increase in sales tax revenue, which helps offset property tax, keeping our property tax rate low.

The FY18 budget includes a property tax rate of $0.45750 per $100 home valuation, making it the fifth consecutive tax rate decrease, and the lowest it’s been in 15 years!

Investment in Public Safety

Cedar Park has long been regarded as one of the safest communities to live, and our commitment to public safety remains a top priority for our growing community.

In response to growth, the FY18 budget includes 9.5 FTEs (full-time equivalent) specific to public safety; the construction of Fire Station #5; buildout of City Hall, building 6, which will house Fire Administration; and the expansion of our Police Department building.

Responding to Growth

The City of Cedar Park is a service-driven organization, and we are committed to continue providing quality services for our community.

In addition to new public safety positions, this year’s budget contains 8 FTEs which includes two positions in our Public Works Department as a Street Striping Crew, a Children’s Librarian, a Neighborhood Services Coordinator and four additional positions to support our effort in staying ahead of the technological curve, continuing to find innovate solutions that increase efficiency and effectiveness of service delivery, and to support the growing organization.

Investment in Our Workforce

Cedar Park is not only one of the best places to live.  It’s also one of the best places to work.

The budget keeps the City of Cedar Park competitive with other municipal workplaces, by offering pay-for-performance raises for non-Civil Service employees, a Step Plan for Police and Fire Civil Service employees and best-value-for-cost employee benefits.

Investment in Transportation

Population growth in and around Cedar Park has increased steadily, and to keep up with this growth, we strive to be proactive in providing solutions for the transportation needs.

This year’s budget includes investments in transportation including additional street striping, street lights and a traffic signal.

Key Future Projects

Vision, leadership and planning for the future have helped make Cedar Park the great place it is today. That eye on the future, and our commitment to bond projects continued when planning for Fiscal Year 2018.

The budget features a number of voter-approved bond projects including the beginning stages of Lakeline Park and the engineering and design of the re-alignment of Bell Boulevard from Buttercup Creek Blvd./Brushy Creek Rd. to Park St. and the reconfiguration of the current six-way intersection at Bell Boulevard and Buttercup Creek Blvd./Brushy Creek Rd./Old Hwy. 183 as part of Phase I of the Bell Boulevard Redevelopment Project.  To learn more about this exciting project visit www.destinationbellblvd.com.

Economic Development

Quality of life means working, shopping and dining close to home so you can spend even more time with family.  That’s why we’re working hard to bring even more major employers, retailers and restaurants to Cedar Park.

An added bonus is that the sales tax generated from shopping and dining helps offset the City’s need for ad valorem property taxes to support the general fund – and helps further economic development.  This year’s budget includes about $13.8 million in sales tax revenue, more than $1.3 million over what was budgeted last year.

Debt Payment Management

Cities take out debt for capital investment such as facilities, roads and large infrastructure projects. Each city that issues debt is given a bond rating, which for a City is akin to a credit score for an individual person or business. A higher bond rating enables the City to issue debt at a lower interest rate – ultimately saving taxpayers money.

Rated by Standard and Poor, the City’s General Obligation Bond debt stands at a AA+ rating, which is just one category from the highest rating possible. These ratings reflect our City Council’s fiscally responsible policies and practices as well as the growing economy over the last several years.

FY 2018 Budget Financial Figures

Ad Valorem Tax Rate

City Council approved a tax rate of $0.45750 per every $100 of home valuation.

The total tax rate is comprised of two components: Maintenance and Operation (M&O) and Interest and Sinking (I&S). The M&O portion of the tax rate is what keeps the City running by funding day to day operations such as police, fire, parks, public works and other services. The I&S portion of the tax rate is used to pay debt that is issued by the City to fund capital investments (like infrastructure). This is calculated by looking at how much it will cost to pay the City’s debt for the upcoming fiscal year.

Tax Rate History

This FY18 tax rate represents the lowest tax rate in 15 years and is the fifth consecutive year the City Council has lowered the tax rate.

How are your property tax dollars used?

Interactive Tool

See how your tax dollars are spent on an annual basis for day-to-day operations. Remember, the M&O portion of the tax rate is used for day-to-day operations, and accounts for about half of the City’s total tax rate. Enter your appraised home value to see how your tax dollars are used to fund City services.

Not sure what your appraised property value is? You can use your Appraisal District’s website to search for your property.

Williamson Central Appraisal District
(www.wcad.org)

Travis Central Appraisal District
(www.traviscad.org)

Tax Breakdown by Taxing Authority

The charts below show how your property tax dollars are divided by taxing authorities based on the county and school in which you reside.
Because the taxing jurisdictions are in the process of adopting their FY18 tax rates, the figures below reflect FY17 tax rates. 

Leander ISD /
Williamson County

Round Rock ISD /
Williamson County

Leander ISD /
Travis County

Understanding Your Property Tax Appraisal

Want more information of property tax? This short video helps explain how property tax appraisals work. 

Total Operating Budget – $140 M

The chart below shows our total operating budget. The General Fund is funded by property tax, sales tax, and user fees and is used to fund day to day operations. The Utility Fund is funded by monthly water bills and is used for our water and wastewater systems and services. The Restricted Funds category is comprised of various funds that are restricted to specific uses such as 4A (economic development), 4B (community development), Debt Service, Cable Fund, Public Arts, etc.

General Fund – $51.1M

The two charts below show the City’s revenues by resource and expenditures by service category.

General Fund Revenues
Total: $50.8M

General Fund Expenditures
Total: $51.1M

FY 2018 Proposed Budget

See FY 2018 Propsosed Budget

Once the FY 2018 budget document is prepared, we will provide a link on this site.
To see our My Cedar Park Budget website for FY17 click here.

Thanks for stopping by!