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Galveston City Council on Thursday passed a $240.2 million budget for the 2019 fiscal year, which begins Oct. 1. The budget includes $86.5 million for new capital projects to improve drainage, streets, water infrastructure, sanitation and sewer, and facilities.
The City tax rate will be $.561 per $100 of taxable property value. This means a homeowner with a house valued at $100,000 would pay about $561 in city property taxes for the year. The tax rate is less than the effective rate – or the rate imposed on existing properties to raise the same amount of tax revenue as the previous year.
The operating budget of $153.7 million funds City services and departments, including 168 police officers, among other things.
While the water and sewer budget is based on current water and sewer rates, an increase will be discussed this fall in order to support a planned bond sales for important utility capital projects and increases in the cost of water.
Of the $86.5 million in capital projects within the budget, about a third – or $29.2 million – is dedicated for improving our water infrastructure. This includes an $18.2 million water line from the 59th Street pumping station to the airport pumping station. About a fourth of the capital budget is for street projects, including the reconstruction of 45th Street.
For more information on the budget, visit the City’s webpage in the Financial Transparency section. http://galvestontx.gov/819/Financial-Transparency