Lower Taxes and Bicentennial Celebration Ahead for Victoria 2024
The City of Victoria has passed its fiscal year 2024 budget and here are the details Victoria residents need to know, beginning with the new budget going into effect October 1st 2023.
A huge topic of interest at the September 5th meeting was the upcoming celebration of our 200th year anniversary. Plans are underway for community members to join the festivities as Victoria celebrates its bicentennial.
The $256 million budget includes funding for several key projects and initiatives which includes plans for the bicentennial celebrations and other items of interest including a public safety headquarters downtown.
"Next spring, construction will begin on a new public safety headquarters at Main Street and Airline Road that will house the Victoria Police Department, including dispatch services; the Victoria Fire Department administration; and the City of Victoria Municipal Court." the City of Victoria civic alert reads. You can read in its entirety here.
Streets are always a concern for Victoria residents and according to the civic alert "The fiscal year 2024 budget includes repairs for 20 miles of City streets, including Vine Street near Riverside Park."
$30 Million in Street Repair Funds for 2024
Most of the $30 million in street funds will be used for neighborhoods, including Bon Aire, College Park and Tanglewood. Vine Street is also scheduled for repairs near Riverside Park.
The fiscal year 2024 budget includes funding for Phase III of the citywide LED Lighting Project.
By the end of calendar year 2023, AEP will finish replacing all 4,052 of its street lights in Victoria with bright, white LED models. Also during this phase, the City will conduct a photometric study to identify areas that need further lighting improvements.
The City of Victoria's official Bicentennial celebration includes the unveiling ceremony for the new statues of founders Martín de León and Patricia de la Garza.
The city of Victoria is including raises for experienced city employees as well as first responders.
Other projects in the new budget include:
- New vehicles for first responders
- A master plan for the Victoria Community Center
- Drainage and utility improvements
One of the biggest items in the budget as well as a huge topic of interest for Victorians is the lower property tax rate.
Also at the Sept. 5 meeting, the City Council approved a property tax rate of $0.4898 per $100 of valuation, a decrease of 13% compared to fiscal year 2023.
The impact on residents’ property taxes will vary depending on their property values and the rates levied by other taxing entities.
Some factors that have helped to shift the tax burden away from homeowners include:
- Increased commercial property values: Values of commercial properties increased at a greater rate compared to residential properties, which is a reversal from recent years.
- New developments: About 15% of the property tax revenue increase for next fiscal year is from new developments, rather than existing properties.
- Increased sales tax revenue: Sales tax revenue is expected to increase by about $840,000 compared to fiscal year 2023.
To learn more about the fiscal year 2024 budget, visit www.victoriatx.gov/budget.