Bastrop, Tx–The economic forecast for Bastrop at Labor Day 2009 is cloudy, mixed and uncertain–far from gloomy but not terribly bright in the short term.
There’s some good news, according to a recent memo from Bastrop City Manager Mike Talbot. The local jobless rate is no worse than the state average, which is not an encouraging figure overall. Retail sales, as measured by sales tax collections, are up some 5.4 percent from the same period a year ago. Property values, as measured by the Bastrop Central Appraisal District for tax purposes, are essentially flat from this time last year.
Less encouraging economic news: essentially no one is building new homes in Bastrop this year. New housing construction was also at a standstill last year.
Homes which come on the market are still selling, according to local real estate dealers. They just take longer this year to find buyers, according to Talbot’s report to the city council.
Here’s another measure of the slowdown in Bastrop economic activity. Including new commercial construction at Burleson Crossing and improvements in downtown Bastrop, the city’s total property tax roll is up this year by some 4.3 percent. A year ago, for the 2009 tax year, the value of Bastrop property was up 13.2 percent.