The Pearland council on Monday finalized the city tax rate, budget and 5-year capital projects plan.
The total city tax rate of 70.5 cents per $100 valuation is slightly lower from the current rate – but is above the city’s effective rate. Based on a 6 percent predicted valuation increase, the average city resident will pay $72 more in taxes in 2016.
City taxes make up 27 percent of the total residential tax bill, with the school district at just over half and the county at only 16 percent. The city’s fiscal year begins Oct. 1.
The final reading for the adoption of the tax rate passed 3-2.
“This tax rate is slightly less than what we originally forecast, and it also represents a slight decrease on the debt service piece,” City Manager Clay Pearson said.
The 5-year capital improvement plan lays out projects the city will take on in 2016 through 2020, though it is revised annually. The plan includes $117.28 million in projects to be implemented in 2016.
Funding sources for the five-year, $480.9 million plan include the 2007 bond referendum, general fund cash, certificates of obligation and proceeds of a 2019 bond referendum. Other funding sources include Transportation Improvement Program grant funding.
Projects include construction of storm sewers and detention for drainage, construction of Independence Park Phase I, Centennial Park Phase II and Green Tee Terrace Trail, as well as an extension of Shadow Creek Ranch Trail, expansion of the Reid Library by 8,000 square feet, renovation of City Hall and street reconstruction, extensions and widening, among others.
Within the city’s annual budget, just under $1 million is proposed for street maintenance, and a 2 percent raise is budgeted for city employees, along with a 3 percent annual “step advance” for police officers.
The second reading of the budget adoption passed 4-1, with Councilman Keith Ordeneaux voting against.
City Council meetings are held in Council Chambers at City Hall, 3519 Liberty Dr.
For more budget information and updated council agendas and meeting videos, visit www.pearlandtx.gov.