The Richmond City Commission has adopted the fiscal year 2022 budget, which goes into effect Oct. 1.
The $41.5 million spending plan provides for city services while simultaneously lowering the tax rate from $0.687772 to $0.680000.
Richmond has consistently decreased the tax rRate over the last 11 years while ensuring the budget will support city services.
“While the tax rate is again lowered, it looks like a property tax increase because of the deceptive way municipalities are required by the Texas Legislature to report it,” said Commissioner Alex Bement.
“This reduction in the tax rate will be a relief for residents who may see a possible increase in their property taxes due to rising property values.”
Property taxes are based on home values determined by the Fort Bend Central Appraisal District.
This tax rate will effectively increase annual property taxes $9.70 on a $100,000 home value.
“The budget was prepared strategically to meet the city’s needs as the city continues to grow, while allowing for flexibility to ensure excellent operational and service levels are maintained,” said City Manager Terri Vela.
“This approach provides for competitive wages to attract quality workforce, continued focus on capital improvement projects including street repairs for potholes, curbs and gutters, and repaving of street surfaces. It also includes surface water projects, and water and wastewater projects to improve the city’s existing infrastructure ensuring Richmond is ready for the new year.”