According to agenda documents, this rate is not final and will decrease before the FY 2021-22 budget is approved in September. The proposed tax rate is required as a tax ceiling, which means Pearland City Council cannot exceed that amount when passing the tax rate for the new fiscal year. According to agenda documents, City Council can and will reduce the rate from $0.735484.
“It’s setting a ceiling, and we can be under it,” Pearland Mayor Kevin Cole said.
According to agenda documents, the proposed tax rate generates $38.9 million for debt service to meet Pearland's obligations and also generates $34.09 million property tax revenue for the general fund operations and maintenance.
In addition to the proposed tax rate, Pearland City Council approved a resolution to place the consideration of the proposed FY 2021-22 budget on the Sept.13 and Sept. 27 City Council meeting agendas as well as setting the public hearing on the budget for Aug. 30.
