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Lockhart Community News
City Council approves 2020-2021 budget, drops tax rate by 4.88 cents
09/16/2020

The Lockhart City Council on Tuesday, September 15 approved the annual operating budget and tax rate for the fiscal year of October 1, 2020 through September 30, 2021.

 

“The primary focus of this operating budget is to fund the continuation of existing programs and service levels and properly respond to the increased demand for services and capital improvements from a growing community despite the presence of a pandemic that has endured for more than six months,” Lockhart City Manager Steve Lewis said.  “The budget allows for improvements to our streets, sidewalks, parks and public safety that will work to maintain and better the quality of life of the city’s residents.”

 

The budget includes $34,791,079 in planned expenditures from all funds and is balanced with revenues exceeding expenditures by $618,887.

 

The 2019-2020 city tax rate of $.6842 per $100 valuation decreased by 4.88 cents to $.6354 per $100 valuation.

 

“With respect to the financial challenges many residents have faced due to COVID-19, the city’s budgeted amount for property tax revenues reflects a no new revenue tax rate.” Lewis said.

 

Read the full press release here.

 

See the budget here.


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