The city of Conroe approved a $154,409,416 budget for fiscal year 2015-16 during its City Council meeting on Aug. 27.

The budget represents a 13.3 percent overall decrease from the FY 2014-15 budget. However, the city expects to generate about $6.22 million, or 30.6 percent, more revenue because of recent land annexations, which are expected to bring in about $4.65 million in gross revenue.

“In this case a large portion of [assessed valuation increase] came from annexations that occurred in the beginning of [2015],” Assistant City Manager Steve Williams said. “Those account for about $950 million in assessed valuation.”

For the ninth consecutive year, the city also approved a property tax rate of $0.42 per $100 assessed valuation. While the rate remains steady, Williams said an increase in revenue is expected because of increases in property tax valuations and population growth.

“It is likely that values will continue to go up through additional growth and increases in valuation,” Williams said. “Those are things that add value to your tax roll.”