Friendswood City Council adopted an effective tax rate at its meeting Monday as part of the city’s proposed $56.3 million budget approval process, but new information could make the number lower.
The effective rate of 52.73 cents per $100 of valuation keeps the same amount of money coming into the city for the 2018 fiscal year.
The 52.73 rate is 1.87 cents lower than the 2017 tax rate, city officials said.
The news got even better Tuesday, city officials said. New data from the Galveston County Tax Assessor-Collector’s Office calculated the new effective tax rate is 52.7391 cents, which is up slightly from the 52.7349 cents data the council voted on Monday.
It’s a small difference, but the higher the effective rate is, the lower city property taxes will be, city spokesman Jeff Newpher said.
The council will vote on the tax rate Oct. 2. No public hearings are necessary because it does not exceed the effective tax rate.
Over the past 39 years, the city's total tax rate has decreased by 20 cents, Newpher said.
The proposed budget is based on a proposed revenue of $56.36 million. It includes capital lease funding of $700,000 for police department radios, an increase in health insurance costs and personnel additions including an information technology support specialist, a parks maintenance worker and a Public Works streets laborer.