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Fort Bend County
Missouri City City Council
by Garrett Bryce
Tuesday, October 02, 2018

Missouri City City Council on Monday voted unanimously to ratify an effective tax increase of 7.76 percent by adoption of property tax rate of $0.63 per $100 valuation for the 2018 Tax Year.

Adoption of the tax rate will result in a $15 increase on a home valued at $50,000 and a $90 increase for a home valued at $300,000, compared to 2017.

Of the total tax rate, revenues from $0.46 per $100 valuation will be dedicated to maintenance and operation of the city, with revenues from the remaining $0.17 per $100 valuation will be used to make payments on the city's bonded indebtedness.

The rate will result in a total estimated revenue of $41,291,049. News Release

The city council voted to authorize the issuance and sale of $21 million in revenue bonds to fund expansion of the city's surface water treatment plant. The bonds will be repaid by user fees.

The city council voted to approve an amended motion to authorize the issuance of $2.1 million in bonds for construction costs associated with the purchase of water, sewer, utilities, drainage and street improvements for Lake Shore Harbour Sections Four and Five.

The item was amended to reflect the amount of $2.1 million in the notice, instead of the amount of $1.23 million.

The city council voted to approve the issuance of $13 million in bonds to fund a variety of critical public purposes and costs of issuance. The bonds are part of a series approved by voters in 2003, 2008 and 2014.

All items were approved. All votes were unanimous with Council Member Jeffrey Boney absent. Agenda

To view a video of the meeting, Click Here





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