In a recent government meeting, officials discussed the city's property tax values and budget for the upcoming year, highlighting a mix of increases and decreases in various revenue streams. Over the past several years, property values in Borger have generally risen, but this year saw a slight decrease due to the council's approval of a 20% homestead tax exemption, which removed over $60 million from the appraised roles.

Despite the decrease in property values, the city adopted a \"no new revenue\" tax rate, which is designed to generate the same amount of tax revenue as the previous year. This approach has resulted in a steady decline in the city's tax rate over the past four years, with the current rate set at 0.647, compared to a voter approval rate of 0.89. As a result, the average homeowner with a homestead exemption will pay approximately $50 less in property taxes this year.

The budget for the upcoming year reflects a 4.4% increase in general fund revenue, primarily driven by renegotiated industrial contracts and increased service charges. However, property tax and sales tax revenues are expected to decrease slightly. The city plans to budget $4.1 million in sales tax for 2024, a conservative estimate compared to the projected $4.3 million for the current year.

On the utility side, the city anticipates a 1.2% decrease in water and sewer revenue, with minimal fee changes. Solid waste fees will see a slight increase from $27.50 to $28 per month, while the sewer minimum will rise from $18.75 to $21. Overall, the city is focused on maintaining a diverse revenue stream, with property tax contributing only 13.7% to the general fund operations.

The total budget for the city is projected at $40.69 million, reflecting a 3.3% increase from the previous year. This budget encompasses various funds, including public safety, public works, and capital improvement projects, ensuring that the city continues to invest in essential services while managing taxpayer costs effectively.