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Rising property taxes: Bastrop homeowners could see $83 increase


The average homeowner in Bastrop could see an $83 increase to their property tax bill next year, according to the city’s proposed tax rate for fiscal year 2022.
The city is proposing to keep its existing $0.5794 per $100 valuation property tax rate the same for next fiscal year. 
The average home in Bastrop was valued at $209,976 in fiscal year 2021, which amounted to a $1,217 annual tax bill, according to the city. That same home will be valued at $224,413 in fiscal year 2022 as home valuations increased on average by 6.88% this year. The average homeowner’s city tax bill next year will also increase by 6.88% if the city keeps the $0.5794 tax rate.  ....

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Bastrop projects more than $500,000 in hotel occupancy tax revenue shortfall


The city of Bastrop is projecting a hotel occupancy tax revenue shortfall of more than $500,000 this fiscal year compared to initial budget forecasts, leading the City Council to discuss potential cost cutting measures and possible policy changes.
City Manager Paul Hofmann and Finance Director Tracy Waldron presented the stark financial picture during Tuesday night’s City Council meeting. Hotel tax funds may only be used to directly promote tourism and the convention/hotel industry, as per the state comptroller s office. 
The city, in its approved fiscal year 2021 budget, projected it would collect about $2.26 million in hotel tax revenue. Officials, however, have updated the budget forecast and have lowered the city s expected revenue to about $1.72 million, a $543,400 decline from the initial estimation. Officials are now left scrambling for ways to close the gap. ....

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