Austin City Council approves $3.9B budget

AUSTIN, Texas — The Austin City Council has approved a nearly $4 billion budget for fiscal 2018.

The $3.94 billion budget was passed late Wednesday night after months of discussion.

The budget for the fiscal year that begins Oct. 1 includes a $1 billion general fund, which covers most city operations, plus self-sustaining funds for things like electricity, water and aviation. It raises tax revenue 7.9 percent, just under the 8 percent limit to trigger a possible rollback election, for a tax rate of 44.48 cents per $100 of property value.

An owner of a median valued home of $305,510 will see a $151 increase to 2018 taxes and fees.

The budget also includes an increased homestead exemption for seniors over 65 and disabled residents.

It approves the addition of 30 firefighters and more than half-a-million dollars in increased capacity for homelessness services.