City of Waco Proposed Budget FY 2024-2025
Last updated
on July 02, 2024 at 07:00 PM
The proposed budget for fiscal year 2024-2025 has been posted!
Highlights
The proposed budget maintains the current tax rate of 0.7550 cents per $100 in valuation — unchanged from the current rate, which is the lowest the tax rate has been in more than a dozen years. This tax rate is based on the taxable value for budgetary purposes estimated from the Preliminary Tax Roll provided to the City by the McLennan County Appraisal District (McCAD). The final tax rate could be adjusted by the Certified Tax Roll issued by McCAD on July 25, 2024. Residential Property Owner Impact Statement(PDF, 324KB)
Expenses from the General Fund, which is tax supported, are down $1.2 million from the current year while still providing salary increases for public safety and civilian employees. The ability to fund these raises and still produce a budget with less expenses than the current year was created through a $7.6 million (-8.4%) reduction in non-personnel-related expenses. None of these reductions will impact the delivery of core City services to Waco residents.
Major projects to be completed and opened during the upcoming 2024-2025 fiscal year include the new regional landfill, the new landfill transfer station, and Fire Station 15 at Richie Road and Panther Way. Projects that were started in the previous fiscal year that will be completed in this upcoming fiscal year, include three new fire engines and three brush trucks being put into service, completion of the design of the new regional park on Flat Rock Road, and completion of water and wastewater improvements to support continuing investment and job growth in the Business Park near Bagby Avenue and Texas Central Parkway.
Several new projects are expected to begin in the upcoming fiscal year, including:
- Construction of the Regional Park and Heritage Trail at the old Floyd Casey stadium site
- Construction of a new animal hospital at the City of Waco Animal Shelter on Circle Road
- Construction of a new fire station on LaSalle Avenue
- Construction of a new STEAM Center in the former Bledsoe-Miller Community Center
- Reconstruction of the Riverwalk from Webster Avenue to the Baylor Law School
- Implementation of railroad quiet zones from the Brazos River to South 11th Street
- Implementation of Phase 1 of the Downtown Strategic Road Map
Informative Video
Check out this video to learn a little bit more about where the money comes from, how it's divided into categories, what it's used to pay for, and more!
It's important to understand the City budget because it helps us know how our City is taking care of us. It shows us what the City is doing with our money and how it plans to make our community better!
Learn more about the budget View the online budget book