Georgetown City Council members adopted a $1.6 billion fiscal year 2026-27 budget at the Sept. 8 meeting.
To support the new budget, council members also adopted a tax rate of $0.363167 per $100 valuation.
What residents should know: Although the tax rate is an increase from the current fiscal year rate of $0.353, officials anticipate no increase in the average property tax bill due to property values decreasing, according to city documents.
For the average residential customer using 10,000 gallons of water per month, the city anticipates a total monthly utility bill increase of about $14 for water and wastewater, $1.50 for stormwater, and $1.24 for solid waste.
Digging deeper: The adopted budget is $300 million more than the current budget of $1.3 billion. Some factors affecting the budget include slower growth in sales tax, marginal growth in property taxes and providing services to a growing population, according to city documents.