Austin leaders are reviewing the city's proposed $6.63 billion budget for the upcoming fiscal year 2026-27, a nearly 5% larger spending plan that would raise the typical household's costs about $350.
The overview: City Manager T.C. Broadnax framed the budget, which includes millions of dollars in cuts to Austin's social services grants, as maintaining long-term fiscal stability while withstanding local revenue challenges.
The draft FY 2026-27 budget is about $301 million larger than the current $6.32 billion spending plan. It includes a $1.54 billion general fund largely backed by tax collections that supports many community services, from parks and libraries to public safety and social programs.
What else? The proposed tax rate is the maximum allowed under state law, a more than 10% increase. That change would add $174 to the typical annual property tax bill, based on Austin's projected median homestead value of $484,907 next year—down $10,000 from this year's median of $494,803. The next in a series of public meetings covering budget details will be held July 22.