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The MCTX City Council voted unanimously to adopt the Fiscal Year 2022 Budget at their Regular Sept. 20 Meeting on Monday night. The FY2022 budget of $157,545,108 includes a lower tax rate of $0.578035, which is two cents less than last year’s rate of $0.598035.
“Due to an increase in property values, this year’s budget allows us to provide residents with a reduction in the tax rate for the second year in a row, while also maintaining the services residents have come to expect from an award-winning city such as ours,” said Interim City Manager Bill Atkinson. “We continue to fulfill the City’s strategic plan goals to create a great place to live, maintain a financially sound city, grow business investments in Missouri City, develop a high-performing city team and have quality development through buildout.”
Fiscal Year 2022 begins on Oct. 1, 2021 and runs through Sept. 30, 2022. Highlights from the new budget include funding for the following initiatives:
The new tax rate of $0.578035 is less than the 2020 Tax Year average of $0.582 for counterpart cities such as Baytown ($0.795), Pearland ($0.720), La Porte ($0.710) and Richmond ($0.688). The value of 1 cent in the tax rate – assuming a 98 percent collection rate, excluding TIRZ – is $729,921.
The budget does not incorporate debt that could result from the passage of the proposed Nov. 2 bond referendum. Such debt would be included in the calculation of the proposed tax rate in future years upon debt issuance.
The full budget document can be viewed via this link on the City’s website: Click Here.
For more updates, please watch the City website: www.missouricitytx.gov, like us on Facebook—fb/MissouriCityTX, follow us on Twitter, Instagram and Snapchat—@MissouriCityTX and Nextdoor, watch Missouri City Television (Ch. 16 on Comcast and Ch. 99 on AT&T) or download the MCTX Mobile app (available for free in Google Play and the Apple app store).