GALVESTON, TX – September 19, 2019 – The Galveston City Council on Thursday adopted a tax rate of $.579885 per $100 of property valuation for Tax Year 2019.
A homeowner who occupies their home valued at $235,000 would pay $1,090, which is $35.50 more than at last year’s tax rate. The proposed property tax rate is expected to generate $35.3 million in tax revenues. Of that, $29.07 million will go to the City’s General Fund, $3.2 million toward the Debt Service Fund and $3.05 million to the Rosenberg Library.
The Galveston City Council last week adopted a $235.1 million budget for the fiscal year 2020 focused on delivering high-quality service, capital improvements and continuing valuable programs.
“This budget is intended to meet the city’s strategic street and infrastructure priorities while also providing those services that make Galveston a better place to live and ensuring our public safety personnel are compensated at the average pay level of our peer comparative cities,” City Manager Brian Maxwell said.
The budget – including maintenance and operating expenditures, one-time appropriations, and the capital budget – is $235.1 million, 5.36 percent less than last year’s combined total. The budget includes adequate reserves in all funds and allocates additional available resources to meet the City’s highest priorities. The fiscal year begins on October 1, 2019.
The budget includes raises for all public safety employees and increased funding to the police and fire pension plans. The budget also includes additional funding for the city’s infrastructure program to keep progress moving forward to complete street and drainage programs approved by voters in the 2017 bond election.
“Homeowners will receive $4.3 million in tax exemptions this tax year. This includes over 4,000 disabled and over 65 homeowners who qualified for additional tax relief last year. This group will see no impact from the tax increase because their taxes are frozen,” said Assistant City Manager Mike Loftin.
The Fiscal Year 2020 budget and the Capital Improvement Plan is available online at www.galvestontx.gov/financialtransparency.