Galveston City Council Approves Tax Rate Increase

In a split vote, the Galveston City Council approved a property tax rate increase of six (6) pennies today at a special meeting. Effective October 1, 2009, Island property owners will pay $0.554/$100 value up from $0.494/$100 value. Combined with a $7 million draw from the City’s reserves, funds generated from this property tax rate increase will leverage federal recovery dollars to help rebuild Ike-battered infrastructure.

In addition to approving the tax rate, the Galveston City Council adopted a $96,532,245 budget for the City’s 2010 fiscal year.

City of Galveston Press Release ~ September 17, 2009