Missouri City City Council approved a 3 cent tax rate increase during a regular meeting Monday, creating a total rate of $0.63 per $100 valuation.

The rate consists of a $0.17 debt service rate and a $0.46 maintenance and operations rate. The total rate supports the fiscal year 2018-19 budget of $139.4 million, which was approved during a regular meeting Sept. 17.

The increased tax rate will generate a total of $41.3 million in tax revenue with roughly $28 million going toward revenue for the general fund, $3.5 million to be transferred to tax increment reinvestment zone, or TIRZ, funds, and about $10 million to be allocated for debt service payments, according to city staff.

Homeowners with homes valued between $50,000-$300,000 will see an increase on their annual tax bill of about $15-$90.

To view the full presentation of the FY 2018-19 general fund budget, click here.