Tax rate to remain same as past year at .22560 cents
The Fredericksburg City Council approved and adopted its 2019 budget of $68,590,529 and tax rate during its regular meeting Monday at the Law Enforcement Center.
The budget increased by $18 million, compared to 2018’s $47.6 million figure, due to an added utility bond project for capital improvements to the city’s water system.
City Manager Kent Myers explained the city is unable to spend funds unless the expense of the project or projects is budgeted.
The city anticipates it will expend funds for the engineering and contracting for its water bond project in the next 12 months, so the $18 million project was included in the 2019 budget.
Four changes to the budget presented prior to its adoption included:
• Repairs to the Art Guild building on Austin Street will cost $36,760. The improvements will be funded by the tourism fund as it involves restoring a historic building and is a visitor attraction.
• Changes to the drainage fund that will add three vegetation management employees to begin the program in January.
• Changes in funding for county services.
• A decrease in property tax revenues due to the city council lowering the tax rate from the rate previously discussed (the $0.22380 rollback rate) to the current tax rate.
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