City reevaluates capital projects after decrease in property tax revenue

Debt capacity lower than anticipated

Assistant City Manager Nick Woolery speaks to Georgetown City Council about changes that will have to be made to the city’s capital project timeline. (Photo by Kaitlyn Wilkes)
Assistant City Manager Nick Woolery speaks to Georgetown City Council about changes that will have to be made to the city’s capital project timeline. (Photo by Kaitlyn Wilkes)

Georgetown city officials are reconsidering the timeline for several capital projects and delaying plans for a spring 2027 bond election after property tax valuations this year came in below projections, reducing the city’s expected debt capacity. 

City staff previously projected property values would increase, providing more tax revenue to pay off future debt. However, a decrease occurred, wh…