Following a public hearing on the 2017-2018 City of Breckenridge budget Tuesday evening, city commissioners voted to approve the budget and next year’s property tax rate.
The budget, which goes into effect on Oct. 1, will raise $110,068 more in property taxes over last year’s budget and includes a cut in the property tax rate. The 5.51 percent increase includes $3,954 in tax revenue raised from new property added to the roll this year. The $14,412,649 budget is down from last year’s budget of $17,655,364.
The property tax rate for 2016-17 was set at $1.03650 per $100 valuation, down from from $1.04 per $100 valuations last year.
Breckenridge City Manager Andy McCuistion, at right, gives an overview of the city budget to city commissioners, from left, Rob Durham and Tom Cyprian, and Mayor Jimmy McKay, at the commission’s regular meeting this week. (Photo by Tony Pilkington/Breckenridge Texan)
Breckenridge City Manager Andy McCuistion said property tax appraised values have increased, along with oil and mineral values, and the drop in sales tax collections appears to have bottomed and is heading in the other direction. He said oil and gas properties appraisals were up $1,700,000 this year.
“This budget turned out better than we anticipated when we started back in April and May. We’re going to be able to do some things this next year we’ve not been able to do this year,” McCuistion told commissioners during the meeting. “Overall, we expect a little bit better year this next year. ”
He said city employees, who have not received a raise since January 2015, will be getting a three percent raise in the new budget.
According to his summary in the City Manger’s proposed business plan presented to commissioners, he said the 2017-2018 is expected to be better than the last two years and will hopefully be the beginning of a trend in a positive direction. The summary also said the city will be ending 2016-17 with a better than planned fund balance in the General Fund and an improved cash balance in the Water Fund.
Story by Tony Pilkington
Cutline, top photo: Breckenridge Mayor Jimmy McKay, left, asks City Manager Andy McCuistion about an item on the agenda for Tuesday evening’s meeting. (Photo by Tony Pilkington/Breckenridge Texan)
