Austin City Council Approves Record-Breaking $5.5B Budget for 2023-2024 Fiscal Year

The Austin City Council has approved a $5.5 billion budget for the 2023-24 fiscal year, making it the largest budget in the city's history. The budget includes funding for affordable housing, homelessness response, weather emergency resources, and a domestic violence shelter. The property tax rate will increase by 3.4%, resulting in a 6.1% increase in the tax bill for the typical Austin homeowner. Several property tax exemptions are available for disabled veterans, residence homesteads, disabled persons, and elderly homesteads. The council also approved amendments to allocate funds for parent support specialists, fair housing education, and to keep human resources employees in the Austin Police Department under the city's corporate HR office.