Updated 4: 10 p.m. Sept. 14

The Houston City Council voted at its Sept. 14 meeting to schedule a public hearing for 9 a.m. Sept. 28 for the 2022-23 property tax rate. The rate being considered will be $0.53364 per $100 of valuation.

Posted Sept. 13

At its Sept. 14 meeting, the Houston City Council will consider setting a public hearing to give residents the chance to weigh in on the proposed property tax rate for fiscal year 2022-23.

Although the tax rate has not yet been determined, a council agenda item for the Sept. 14 meeting indicates council members will consider a rate of $0.53364 per $100 of property valuation, lower than the current tax rate of $0.55083 per $100 of valuation.

The proposed tax rate falls in between the no-new-revenue tax rate—the rate the city would set to raise the same amount in property tax revenue as the previous year, not counting new properties added to the tax roll—and the voter-approval tax rate, the highest possible tax rate the city can set before being required by state law to get voter approval during an upcoming election.

The no-new-revenue tax rate is $0.524454 per $100 of valuation, while the voter approval rate is $0.546165 per $100 of valuation, according to the agenda item.

In a budget passed earlier this year, city officials projected bringing in $1.28 billion in property tax revenue in fiscal year 2022-23, up from $1.23 billion in the previous year.

Under the proposed tax rate, a homeowner with a home valued at $300,000 would pay $1,600.92 in property taxes on their tax bill, without factoring in exemptions. The amount owed on a $300,000 home would drop from $1,652.49 under the current rate. The city of Houston also raised its property tax exemptions earlier this year.

A public hearing on the tax rate is expected to take place at 9 a.m. Sept. 28.