During the October 14 regular council meeting, the city's 2008 proposed tax rate and FY 2009 budget were reviewed. The city's proposed 2008 tax rate is .347833 per $100 valuation. The Maintenance & Operations (M & O) portion of the tax rate at .22677 remains the same as in 2007. The new debt rate is proposed at .121063. Debt includes monies for the park clubhouse acquisition, city hall construction, and water/sewer infrastructure improvements. The city acquired the clubhouse in June, 2008. City hall construction is expected to start in January, 2009. New residential water lines were completed in October, 2008 The overall proposed 2008 tax rate remains lower than Bellaire and West University Place. Several capital items in the proposed budget include:
1) FEMA grant cost-sharing for fire equipment, 2) New 2008 police vehicle, 3) Ordinance Codification. Copies of the FY 2008-2009 budget are also available for public review at city hall.
