During a recent government meeting, city officials discussed the proposed maximum property tax rate for the upcoming fiscal year, setting the stage for a public hearing scheduled for September 16, 2024. Assistant City Manager Jason Mancom presented the details, emphasizing the importance of this step in the budget approval process.

Mancom explained that the city calculates two key tax rates based on certified property values from Fort Bend and Harris Counties: the \"no new revenue\" tax rate, which maintains flat revenue for the city, and the \"voter approval\" tax rate, which allows for a maximum 3.5% increase in revenue for operational needs and debt service obligations. For the upcoming year, the no new revenue rate is set at 0.567354¢, while the adjusted voter approval rate is proposed at 0.578045¢.

The council noted that if the adopted tax rate exceeds the voter approval rate, a public election would be necessary. However, the city manager is expected to propose a tax rate lower than the voter approval rate, aiming to keep it consistent with the previous fiscal year. The meeting concluded with the understanding that the actual tax rate will be finalized during the public hearing in September, with the current discussion focused solely on establishing the maximum allowable rate.