To fulfil various legal requirements associated with setting the annual ad valorem tax rate (including requirements set forth in Houston Code of Ordinances, Section 44-27), on September 13, 2017, City Council adopted Motion No. 2017-562. The Motion established public hearings dates and authorized newspaper publications regarding the proposed annual ad valorem tax rate.
Due to recent receipt of $50 million grant from the State of Texas to help defray expenditures related to Hurricane Harvey, the Administration will propose a lower tax rate than originally anticipated on September 13, 2017 when City Council established three public hearing dates. The proposed lower tax rate is not expected to increase the City of Houston’s ad valorem property tax revenues for the current fiscal year in an amount greater than five percent more than the ad valorem property tax revenues collected during the immediately preceding fiscal year. Accordingly, a third public hearing is no longer necessary.
The proposed lower tax rate will be considered on the October 18, 2017, agenda as set by Motion No. 2017-562.
____________________________________
Tantri Emo
Interim Director