Proposed budget will avoid projected deficit

If passed, budget will bring higher water utility bills to Austin Austin City Manager Marc Ott proposed a $2.8 billion fiscal year budget on Wednesday to the city council that evades a previously projected $25.3 million budget deficit. If the budget passes as is, Austinites could expect an average monthly increase of $4.25 on water utility rates, but would not see any changes to electric rates. To avoid a budget shortfall, Ott proposed freezing open job positions in city departments as well as limiting public library hours and cutting back on road maintenance. Ott also proposed a property tax rate decrease from the current 40.34 cents per $100 assessed value of a home to 40.28 cents. Property tax revenue is the biggest source of funding for the general fund, which provides for services such as public safety, health and human... [read full story]