A Note from Commissioner Meyers...
At Tuesday’s Commissioner’s Court meeting, we voted to propose the Fiscal Year 2020 tax rates for both the County and Drainage District. I am pleased to announce that we have agreed to reduce the overall combined tax rate from 46.4 cents (per $100 in valuation) to 46 cents (per $100 in valuation). A quick breakdown of the tax rates:
Fort Bend County General Fund - $0.3435
Road and Bridge Fund - $0.016
OPEB Trust - $0.01
Interest and Sinking Fund - $0.0752
Total County Rate - $0.4447
Drainage District Maint. Fund - $0.0135
Drainage District Interest and Sinking Fund - $0.0018
Total Drainage District Tax Rate - $0.0153
TOTAL OVERALL TAX RATE - $0.46
Before I go any further, I want to address the Drainage District tax rate. This is an overall reduction from last year’s tax rate, and, unlike years previous, it includes an I&S rate. With the upcoming flood mitigation bond in November, we needed to create a debt fund for the Drainage District. Through the counsel of the County Auditor, this strategy gives us the ability to now fully fund projects in an expedient and efficient manner, whereas in previous years we had to fund our various major projects through a “pay as you go” system. The drainage district tax rate now gives the district more flexibility and allows the district to fund projects immediately instead of having to divide projects up as funding becomes available.
The court will hold public hearings for the tax rate on August 28th at 5:30 and September 3rd at 1:00.
The court will hold public hearings for the budget on September 9th at 5:30 and September 10th at 1:00.
All hearings will be at the Historic Courthouse, located at 401 Jackson Street in Richmond.
Through this reduction in the overall tax rate, I believe the Fort Bend County taxpayers get a huge win. Throughout my time as your Fort Bend County Precinct 3 Commissioner, I’ve fought strongly to reduce your taxes. I’m proud of this court’s willingness to reduce the tax rate again, and I’m proud that this county is in a financial position to allow for continued tax cuts.