Tomball City Council unanimously approved a proposed property tax rate of $0.287248 per $100 valuation for fiscal year 2022-23 during its Sept. 19 meeting.
This proposed rate is $0.046091 lower than last year’s rate of $0.333339, according to Tomball’s Finance Director Katherine Tapscott.
The proposed tax rate decrease comes as property values continue to rise. From FY 2021-22, Harris County property values rose 21%, Community Impact Newspaper previously reported.
Tomball ISD also recently approved a property tax decrease.
Since the proposed tax rate is lower than the no-new-revenue tax rate of $0.292522 and the same as the voter-approval tax rate, a public hearing is not required, according to city documents.
The first reading of the proposed tax rate will take place at the council’s Oct. 3 meeting, and the second reading will take place at the Oct. 17 meeting, at which time council will vote whether to accept the rate.