FY18 Budget Highlights

Property Tax Rate Reduction Due to Growth

Cedar Park has experienced rapid growth, not only in population, but in our business community as well. This has allowed us to see an increase in sales tax revenue, which helps offset property tax, keeping our property tax rate low.

The FY18 budget includes a property tax rate of $0.45750 per $100 home valuation, making it the fifth consecutive tax rate decrease, and the lowest it’s been in 15 years!

Investment in Public Safety

Cedar Park has long been regarded as one of the safest communities to live, and our commitment to public safety remains a top priority for our growing community.

In response to growth, the FY18 budget includes 9.5 FTEs (full-time equivalent) specific to public safety; the construction of Fire Station #5; buildout of City Hall, building 6, which will house Fire Administration; and the expansion of our Police Department building.

Responding to Growth

The City of Cedar Park is a service-driven organization, and we are committed to continue providing quality services for our community.

In addition to new public safety positions, this year’s budget contains 8 FTEs which includes two positions in our Public Works Department as a Street Striping Crew, a Children’s Librarian, a Neighborhood Services Coordinator and four additional positions to support our effort in staying ahead of the technological curve, continue to find innovate solutions that increase efficiency and effectiveness of service delivery, and to support the growing organization.

Investment in Our Workforce

Cedar Park is not only one of the best places to live.  It’s also one of the best places to work.

The budget keeps the City of Cedar Park competitive with other municipal workplaces, by offering pay-for-performance raises for non-Civil Service employees, a Step Plan for Police and Fire Civil Service employees and best-value-for-cost employee benefits.

Investment in Transportation

Population growth in and around Cedar Park has increased steadily, and to keep up with this growth, we strive to be proactive in providing solutions for the transportation needs.

This year’s budget includes investments in transportation including additional street striping, street lights and a traffic signal.

Key Future Projects

Vision, leadership and planning for the future have helped make Cedar Park the great place it is today. That eye on the future, and our commitment to bond projects continued when planning for Fiscal Year 2018.

The budget features a number of voter-approved bond projects including the beginning stages of Lakeline Park and the engineering and design of the re-alignment of Bell Boulevard from Buttercup Creek Blvd./Brushy Creek Rd. to Park St. and the reconfiguration of the current six-way intersection at Bell Boulevard and Buttercup Creek Blvd./Brushy Creek Rd./Old Hwy. 183 as part of Phase I of the Bell Boulevard Redevelopment Project.  To learn more about this exciting project visit www.destinationbellblvd.com.

Economic Development

Quality of life means working, shopping and dining close to home so you can spend even more time with family.  That’s why we’re working hard to bring even more major employers, retailers and restaurants to Cedar Park.

An added bonus is that the sales tax generated from shopping and dining helps offset the City’s need for ad valorem property taxes to support the general fund – and helps further economic development.  This year’s budget includes about $13.8 million in sales tax revenue, more than $1.3 million over what was budgeted last year.

Debt Payment Management

Cities take out debt for capital investment such as facilities, roads and large infrastructure projects. Each city that issues debt is given a bond rating, which for a City is akin to a credit score for an individual person or business. A higher bond rating enables the City to issue debt at a lower interest rate – ultimately saving taxpayers money.

Rated by Standard and Poor, the City’s General Obligation Bond debt stands at a AA+ rating, which is just one category from the highest rating possible. These ratings reflect our City Council’s fiscally responsible policies and practices as well as the growing economy over the last several years.