Missouri City Leadership Proposes Yet Another Property Tax Increase--see this chronicle piece--

Click the title link for the full story on how city leadership is once again raising taxes and borrowing from the "fund balance" (a special account made up of unused bond-debt monies that were originally designated for other projects)...

Snip-it: "...City Council members in Missouri City have scheduled an Oct. 5 vote on a proposed 1-cent increase in the 2009-10 property tax rate, trading additional cuts in city spending to allow for quicker action on capital construction projects.
The proposed tax rate is .528 per $100 valuation for the budget year that began July 1. That compares to last year's rate of .51724. The new rate is in line with what was discussed during budget workshops earlier this summer, but with more money for debt service on voter-approved capital improvement projects such as streets, drainage and City Hall renovations...

...If the city manager's proposal is adopted, annual city property taxes on a home valued at $200,000 would increase from $1,034.48 to $1,056..." Chron