As tax revenues begin to rebound in a post-pandemic world, Mountain View’s newly approved budget reflects the city’s stable financial position by making big investments in housing, public safety, sustainability and open space.
The creation of a dedicated housing department, a 2024 tax revenue measure to raise funds for a new public safety building, and plans to add one to two new parks to the city every year are just a few highlights from the 2023-24 budget, which the Mountain View City Council approved unanimously and with little discussion on June 27. The council took a closer took at the budget during a June 13 hearing.
The upshot is that the city's revenue is expected to rise by a healthy margin this coming year, totaling $180.8 million, a 10.4% bump over the adopted budget last year. In addition to tax revenues stabilizing, Mountain View’s strong finances are thanks in part to the city-owned properties it leases out.
“The fact that the city has these additional resources has helped, over time, maintain some of the financial stability of the city, especially recently,” said Finance and Administrative Services Director Derek Rampone at a June 13 budget hearing.
Property tax revenue makes up about 41% of the city’s general fund revenues, the largest portion of the pie, while income from city-owned property comes in second at nearly 16%. Sales tax and other local taxes are close behind.
As for general fund expenditures, police and fire together take up nearly half of the city budget for 2023-24. The other half of the budget is divided between the city’s administrative and support departments, public works and community services.
For more information about some of the major investments Mountain View is making in the 2023-24 budget, read the Voice’s coverage of the council’s June 13 budget hearing.