The details
City Council unanimously approved two tax rates to support the FY 2023-24 budget:
- A debt service tax rate of $0.067024 per $100 of assessed property valuation
- A maintenance and operation tax rate of $0.362976 per $100 of assessed property valuation
- A total combined property tax rate of $0.43
Additionally, Katy City Council considered an ordinance approving and adopting the budget for the fiscal year 2023-24.
The council also passed the Hotel Occupancy Fund Budget for the same period, which is a potential collection of funds set aside aiming to help development and growth of the hotel industry within the city.
For further information on the adopted budget and tax rates, residents are encouraged to visit the official Katy City Council website for a full meeting video and list of City Council agenda documents.
Residents are also encouraged to visit the resources listed above for daily updates on the official total dollar cost of the new budget once released by the city of Katy.
