The city of Wichita Falls wants to lower its residents’ property tax rates and increase their water bills under a budget proposed by City Manager Darron Leiker for the 2024-2025 fiscal year.
The budget proposal calls for total spending of approximately $238.8 million, an increase of approximately $5.8 million over the current fiscal year.
It provides for an increase in prices for water, sewage and sanitation services by 2.5 percent.
Those fees, which make up the bulk of the city’s revenue, would bring in a total of about $99.87 million, compared to the $97.03 million projected for fiscal year 2024.
The budget proposal would increase average residential water and sewer rates from $64.45 to $66.07 per month.
Residents are expected to generate approximately $51.66 million in property tax revenue for the city, an increase of $2.92 million over the current year due to increased property values and the addition of new properties to the tax rolls.
Leiker assumes that this increase in revenue can be achieved while simultaneously reducing the tax rate from 0.68 cents to 0.6775 cents.
He expects a slight decline in sales tax revenue, which is expected to be $30.9 million, compared to an expected total of about $31.73 million in fiscal year 2024. That would be a decrease of $821,000.
The budget would give city employees a 4 percent general salary increase, costing a total of about $2.57 million.
In addition, seven new positions will be created. These include a bicycle safety coordinator, a park director, two new fire department positions, two new MPEC positions and an IT analyst.
The proposed capital improvements would cost a total of just under $11.33 million. Topping the list are $5 million for the federal permit for Lake Ringgold, about $3.55 million for road repairs and improvements, and $3.5 million for water and sewer line replacements.
A public hearing on the draft budget will be held in September before City Council members vote on the final budget, which takes effect on October 1.
