08/22/2019 | News release | Distributed by Public on 08/22/2019 16:25
A tax rate of $0.582433 per $100 valuation has been proposed for adoption by the governing body of City of Galveston. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.
The governing body of City of Galveston proposes to use revenue attributable to the tax rate increase for the purpose of providing essential services to the citizens including public safety pay and benefits.
PROPOSED TAX RATE $0.582433 per $100
PRECEDING YEAR'S TAX RATE $0.561000 per $100
EFFECTIVE TAX RATE $0.538771 per $100
ROLLBACK TAX RATE $0.582433 per $100
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Galveston from the s ame properties in both the 2018 tax year and the 2019 tax year. The rollback tax rate is the highest tax rate that City of Galveston may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
The next public hearing is Thursday, September 12 at 9 a.m. in Council Chambers.