Chron: Missouri City Raises M&O Property Tax Rate (Continue to draw on "reserve funds" to give the appearance of a balanced budget)

Missouri City council members on Monday officially approved the property tax rate for 2010-11, which will be 52.84 cents per $100 of valuation.

While the overall rate remains the same as last year's, it includes a slight increase in the part of the tax rate that goes for city maintenance and operations.

Council members stuck with this tax rate despite final appraisal numbers from Fort Bend and Harris counties that represent an 8.8 percent drop in taxable value from 2009 to 2010. City Manager Frank Simpson said the tax rate will bring in $450,000 less than budgeted for city expenditures...(click the title link above for more)