The council Tuesday approved the second reading of a $251.3 million budget for the 2020 fiscal year that will keep the effective tax rate, a slight decrease from the current rate, city officials said.
If the council approves the final tax rate in October, the property tax rate would decline from 56.38 cents per every $100 of taxable property value down to 54.85 cents per $100 of taxable property value, officials said.
Property taxes account for about $50 million, about 36 percent, of the city’s general fund revenues, documents show.
Tuesday’s vote brings toward a close a relatively quiet budget season for Galveston County’s biggest city.
The city’s population in January of this year was 106,803 and officials now project it could one day rise above 200,000.