During its upcoming meeting, Marble Falls City Council plans to conduct its first formal reading of the city’s proposed budget for Fiscal Year (FY) 2024-2025, set to begin Oct. 1.
Also, the council plans to review the Marble Falls Economic Development Corporation proposed budget for FY 2025.
The meeting is scheduled for 6 p.m. Aug. 20, at City Hall, 800 Third St.
Most likely, the council will discuss the proposed property tax rate of 53.5 cents per $100 of property valuation.
Currently, the rate is 54 cents per $100.
Most probably, council members will consider the general fund, expected to collect revenue between $19 and $21 million during FY 2025.
The second reading is scheduled for Sept. 3. Final vote on the rate and the budget is Sept. 30.
Also during the meeting, the council plans to discuss tax assessments for the Thunder Rock Public Improvement District and the La Ventana Public Improvement District, as well as the proposed Tax Increment Reinvestment Zone No. 1 expansion to include the J.M. Huber Corp within city limits.
During its consent agenda, the council plans to approve:
• An interlocal agreement between Burnet County and the city of Marble Falls for county personnel and equipment to apply seal coating to city-owned streets; Adoption of a five- year Capital Improvement Plan beginning FY 2025;
• The addition of one school resource officer to the Marble Falls Independent School District Highland Lakes Elementary Campus; and
• The Thunder Rock Public Improvement District Area 2A and Remainder Area Construction, Funding and Acquisition Agreement.
