During an Aug. 24 meeting to approve the fiscal year 2022-23 budget, Magnolia City Council voted unanimously to approve a property tax rate of $0.3813 per $100 valuation.

This rate is $0.0238 less than last year’s rate of $0.4051.

“The council is fairly committed to reducing rates whenever possible,” Magnolia City Administrator Don Doering said.

With the exception of FY 2017-18 when the rate was $0.4709, the Magnolia City Council has approved the same rate as the year before or a rate decrease, according to city information.