The District had a significant accomplishment on Tuesday night – adopting a balanced budget for the new fiscal year that begins on Friday that maintains the current property tax rate for the fourth year in a row.
Because of an overall decrease in property values, continuing to maintain the same tax rate means that most property owners will actually pay less in taxes to the District. That reduction in revenue, combined with reductions in funding from state and federal sources, means that the agency’s budget will decrease by 18.7 percent.
The challenges over the past six months, as every aspect of revenues and expenditures were evaluated, were to ensure that we maintain our highest priority water resource projects that enable us to meet statutory responsibilities, while also continuing to be able to make sound decisions based on fact and science. While we have had to make significant adjustments, we have successfully met those challenges.
Details about the new budget are in our news release and on our budget web page.
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