The July 11, 2023, regular meeting of the Breckenridge Texas City Commission focused on key financial discussions, particularly regarding the proposed tax rate and debt management strategies.

The meeting began with a presentation on the implications of the proposed tax rate. It was noted that each penny increase in the tax rate corresponds to approximately $25,000 in new spending. Specifically, a proposed increase of three cents would equate to about $75,000 in additional funding. For the average home value of $175,000 in Breckenridge, the current tax bill stands at $17.85. If the proposed tax rate of $1.05 is approved, the tax bill would rise to $18.37, reflecting an average increase of $52.50.

Following the tax discussion, the commission reviewed the city's debt schedule. It was highlighted that the majority of the city's debt is associated with water and wastewater projects. This financial structure allows for the potential to free up capacity for certificates of obligation from the general fund. The commission also discussed previous financial maneuvers, including the allocation of $1,489,000 from the debt service account. This amount was strategically applied to reduce the maturity dates of several debt obligations, including an additional payment of $725,000 towards the 2012 debt, which will now mature in 2034 instead of 2044.

The meeting concluded with a brief mention of upcoming discussions related to community projects, including a presentation from the local rotary club, indicating ongoing community engagement and collaboration.

Overall, the meeting underscored the city's proactive approach to managing its financial obligations while considering the impact of tax rates on residents. Further discussions and decisions are anticipated in future meetings as the commission continues to navigate these financial matters.