Cedar Park City Council Adopts Lowest Tax Rate In 15 Years With New Budget

CEDAR PARK, TX — The Cedar Park City Council adopted ad valorem property tax rate of 45.750 cents for every $100 of property valuation – representing a 1.25 cent decrease from last year’s 47 cents – at its September 14 meeting.

City officials noted this is the fifth consecutive year city council has lowered the tax rate and it is the lowest Cedar Park has seen in 15 years. The new 45.750-cents rate remains one the lowest property tax rates among other local cities.

Still, the new rate will add $62 to the average homeowner's tax bill.

With the new tax rate, city council passed a structurally-balanced $51.1 million General Fund budget for fiscal year 2018. The theme of the budget is "Guided Growth for a Community-Centered Future," highlighting the quality of life dynamics of the community and the fiscal soundness of its economy, city officials said. In passing it, the balanced budget featured a continued commitment to public safety, mobility improvements, an increase in employment opportunities and other community enhancements, city officials stressed.

"It particularly reflects a commitment to technology and providing the tools and resources needed to encourage efficiencies in operations maintaining core services," an advisory reads. "More than half – 52 percent – of the General Fund budget goes towards public safety.

To see highlights of the FY 18 budget visit www.MyCedarParkBudget.com. There, you’ll find animated illustrations, interactive explanations, and a property tax calculator – in which you can enter your home’s assessed value and instantly see a chart that shows exactly where your property tax dollars go.

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