HOUSTON - Mayor Turner will seek city council's approval of an 8.9% hike in the city's property tax rate to help with Hurricane Harvey recovery, according to Alan Bernstein with the mayor's office.
Turner's proposal would increase the current property tax rate from 58.64 cents per $100 of appraised value to 63.87 cents.
Currently, a home with $225,000 valuation pays $1,321 in taxes. Under the proposed increase, that same home would pay $1,439 or a difference of about $118 - that equals less than $10 per month increase.
The mayor's office says this would be a one-time rate hike that expires after 12 months and cannot be renewed. It would raise about $110 million to be used to repair damaged city property and facilities.
The council would consider the increase on October 18 after three public hearings.