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Missouri City Council gathered Sept. 18 to discuss and approve the budget for the upcoming fiscal year from Oct. 1 to Sept. 30, 2024.
The proposed upcoming budget was a byproduct of a comprehensive fiscal planning process that began in April. This included a citizens engagement workshop aimed at gathering community feedback.
By the numbers
The tax rate for fiscal year 2023-24 was set at $0.570825 per $100 valuation, in line with the voter-approval rate, according to City Council documents.
One significant point of discussion during the meeting was the tax rate. The budget includes a tax revenue increase statement, as required by the Texas Local Government Code. A significant portion of this increase, $1.96 million, is attributed to tax revenue from new properties added to the tax roll.
Missouri City Council also voted on various tax rates, including the property tax rate, the no-new-revenue rate, the no-new-revenue maintenance and operations rate, the voter-approval rate and the debt tax rate. The total amount of municipal debt obligations for the fiscal year is set at $174.44 million, according to City Council documents.
The impact
The approved tax rate will facilitate the funding of various essential city services with an estimated total tax revenue of $61.04 million anticipated for FY 2023-24.
Missouri City residents are encouraged to review the detailed FY 2023-24 proposed budget, available on the city's website, to gain a comprehensive understanding of the city's financial priorities and objectives for the upcoming fiscal year.
