The Village of Salado will conduct a public hearing on the proposed 2019-2020 fiscal year budget at 6:30 p.m. Sept. 5 at the municipal building.
Aldermen will hold public hearings on the proposed tax rate on Sept. 5 and Sept. 12. At its regular meeting on Sept. 19, the board of aldermen will adopt the 2019-2020 fiscal year budget and tax rate.
The proposed Fiscal Year 2020 Budget will raise more total property taxes than last year’s budget by $33,183.93 or 2.9% and of that amount $18,183.93 is tax revenue to be raised from new property added to the tax roll this year.
The proposed tax rate is just below the rollback rate.
Mayor Skip Blancett filed the Proposed 2019-20 Budget with Bell County on Aug. 9. The general operating budget is 20% higher than the 2018-19 budget at $1.3 million.
The budget has a proposed tax rate of $0.6135 per $100 valuation, slightly lower than the 2018 tax rate of $0.6276. Despite the lower rate, it will generate more revenues to the Village. Total net taxable values for the Village increased to $246,6 million compared to the total net taxable values of $233.1 million, an increase of about 6 percent.
Property taxes will generate $395,238 in general operating revenues and $758,804 in debt service revenues.
Sales taxes will be budgeted at almost 25 percent higher for 2019 than 2018. The proposed budget anticipates $490,000 in sales tax revenues.
Other revenue sources include franchise fees of $226,000, up five percent from 2018, $45,320 in permits and fees, driven by building fees of $36,970, $23,150 in services and $10,500 in fines and forfeitures.
The general operating budget will have the following departmental expenditures:
• $472,708 in administrative costs, including $234,564 in personnel costs.
• Developmental services of $96,886, including $81,387 in personnel costs.
• Public Safety Department costs of $533,214 including $40,000 contract to Salado VFD and $386,928 in police personnel costs.
• Public Works Departmental costs of $47,072, $44,789 in personnel.
• Parks Department Costs of $8,670.
• Street Department Costs of $180,650, including $130,000 in capital outlay for streets, Main Street improvements and other capital outlay costs.
The Hotel Occpancy Tax budget is proposed at $227,000, principally funded by HOT taxes.
Top HOT expenses are these: Personnel, $103,407.25; Visitor center lease, $18,204; Marketing, $70,000, and Arts, $21,000.
The Wastewater Fund Budget is proposed at $238,115.52 with expenses of $209,370, including $37,450 for utilities, $160,920 for operations contract and $11,000 for testing and sludge fees.
The debt service budget is proposed at $758,804 in property tax revenues and $182,575 in interest expenses and $495,000 in bond principal payments.