PEARLAND, Texas - For the first time in decades, property value growth in the City of Pearland is declining.
Now city leaders are expected to approve a budget that includes an increase in effective tax rate by 2.4 cents per $100 valuation. The 2.4 cents adjustment would bring the tax rate to 70.9 cents, but that doesn’t mean people in Pearland will be paying more.
“I wouldn’t say we’re taking an extra 2 cents,” said Councilman Trent Perez. “We are trying to get the same amount to fund the same services that we have provided historically.”
Perez attributes the decline in property value to Hurricane Harvey and the ongoing property value decline in Shadow Creek Ranch near Blue Ridge Landfill.
City of Pearland Director of Communications, Joshua Lee, says property values overall are not down. “Homestead values overall increased slightly or stayed the same,” said Lee. “The values have not increased as much as prior years, which is expected with a maturing and growing city.”
City Council’s preliminary vote on the budget plan passed on Sept. 17 and they will make a final budget decision on Sept. 24.