MISSOURI CITY (Covering Fort Bend News) - In a 7-0 record vote at their Tuesday, Sept. 3 Regular Meeting, Missouri City Councilmembers approved a 2019 proposed tax rate of $0.63000 per $100 valuation for the Fiscal Year 2020 Budget year.
State law requires that two public hearings be held before final Council adoption of the proposed tax rate; in accordance, staff has scheduled them as follows:
- Monday, Sept. 16; Regular City Council Meeting; 7 p.m.; Council Chambers
- Monday, Sept. 23; Special City Council Meeting; 6 p.m., Council Chambers
Residents are encouraged to attend the sessions to provide their input and feedback to City Council and staff.
The 2019 proposed tax rate is below the rollback tax rate of $.63987; and here is a breakdown of the calculation:
- Maintenance & Operations (M&O): $.46639
- Debt Service (I&S): $.16361
- Total Rate $.63000
“The proposed rate will result in approximately $44,076,188 in tax revenue for the year,” said City Manager Anthony J. Snipes. “Of this amount $29,783,986 will be allocated to revenue for the General Fund, $3,843,696 will be transferred to tax increment reinvestment zone funds, and the remaining $10,448,506 will be allocated to the Debt Service Fund.”
Should City Council Members adopt the proposed tax rate of $0.63000 per $100 of taxable value, the chart below outlines the taxes for homes that have values ranging from $50,000 to $300,000:
The FY2020 Budget Year runs from Oct. 1, 2019 to Sept. 30, 2020 and was focuses on six council priorities that Members identified at their retreat on Feb. 8 and Feb. 9:
- Economic Development & Redevelopment;
- Fire Department;
- Beautification; and
The FY2020 proposed financial blueprint may be viewed on the Financial Transparency page of the city website via this link: http://bit.ly/2lxuuhk.
“Through the city’s business plan process, staff will set measurable goals for the council strategies and work collaboratively to achieve them while utilizing our five-year financial plan to responsibly move forward fiscally and while maintaining superior customer service to citizens and stakeholders,” Snipes said.