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Liberty Hill council signals support for ‘no new revenue’ tax rate while weighing fund-balance ceiling and a salary study
Summary
At a Feb. 11 special meeting, Finance Director Josh Armstrong told the Liberty Hill City Council the general fund is roughly $2 million under current budgeted expenditures and asked for direction on three items: property tax rate (he recommended 'no new revenue'), employee pay (3% COLA vs. a market study) and a fund-balance policy with a 25% floor and a 33% ceiling.
Finance Director Josh Armstrong laid out the city’s preliminary fiscal picture at a Feb. 11 special meeting of the Liberty Hill City Council, asking for direction on the property tax rate, employee pay and a formal fund-balance policy before staff finalizes the FY26 draft budget.
Armstrong told the council that after removing last year’s one-time items and reviewing department requests, expenditures are about $2,000,000 below the current budget and that development-services engineering costs accounted for a large share of the change. “I am proposing that we utilize the no new revenue rate,” he said, explaining that the approach would keep this year’s rate the same for current property owners while allowing growth in new value to generate additional revenue.
Why it matters: Armstrong said the city held roughly $15,000,000 in fund balance as of Sept. 30, 2024, and that the current policy requires a 25%…
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