What you need to know
City Council considered a tax rate of $0.63 per $100 valuation of a home, which is lower than the city’s maximum tax rate the council approved in August, but higher than the city’s no-new-revenue rate of $0.619439.
For a Pearland home with a median taxable value of $372,103, the difference in the tax bill between the two rates is around $40, according to previous reporting by Community Impact. Compared to last year, a $0.63 tax rate would be about $12 less than last year for a home of the same value.
Why it matters
The city’s budget in terms of revenue is projected to increase from last year by 6.13%, while expenditures will increase by 2.43%, according to previous reporting.
City Manager Trent Epperson said that the revenue collected last year does not buy the same level of service this year, due to rising costs.
“To provide those services, we’re not immune to the rising costs that everyone else sees–for people, fuel, chemicals, equipment, radios, air packs, asphalt,” Epperson said.
Looking ahead
City Council will hear the second and final reading to approve the budget and tax rate Sept. 22.
