The approved FY 2021-22 tax rate of $0.263508 is up from the rate of $0.258693 in fiscal year 2020-21. According to City Manager Jason Stuebe, this is an effective increase of 9.31%, meaning the amount of the total taxes collected is 9.31% higher than the previous fiscal year.
While city officials had proposed a tax rate of $0.262115 during the FY 2021-22 budget workshop on Aug. 17, Stuebe said that proposed tax rate was based on estimates provided by the Harris County Appraisal District; city officials have since received the final certified tax rolls and amended the proposed tax rate for FY 2021-22 accordingly.
According to city documents, while the new tax rate is greater than the no-new-revenue tax rate and the voter-approval tax rate, it is not greater than the de minimis rate—a tax rate calculation designed to give smaller taxing units, including cities with a population of less than 30,000, some relief from the 3.5% voter-approval rate, according to the Texas Comptroller website.
Based on American Community Survey's 2019 five-year estimates, the median home value in the city of Humble was $122,900. Based on this figure, a typical homeowner in Humble can expect to pay about $6 more in taxes in FY 2021-22, than they did the fiscal year prior.
The new tax rate will go into effect Oct. 1 and will be applicable to the value of homes as of Jan. 1, 2021, Stuebe said.