Pearland - Friendswood Edition | May 2020

PEARLAND FRIENDSWOOD EDITION

VOLUME 6, ISSUE 6 | MAY 15 - JUNE 11, 2020

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Property taxes made up more of Pearland and Friendswood’s revenue than any other source in FY 2019-20. As this year’s property values are expected to be higher than last year’s, the cities are not expecting a shortfall. SOURCES: CITIES OF FRIENDSWOOD, PEARLAND / COMMUNITY IMPACT NEWSPAPER

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PROPERTY TAX PROPS UP BUDGET

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Friend swood

PROPERTY TAXES $25.7M

SALES & USE TAXES $22.7M

FINES & FORFEITURES $2.4M LICENSES & PERMITS $3.9M

TOTAL $86.9M

SALES & USE TAXES $6.6M

PROPERTY TAXES $16.1M

CHARGES FOR SERVICE $18.3M

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TOTAL $28.2M

FEES $2.2M

OTHER $6.7M

FRANCHISE FEES $7.2M

OTHER $1.2M

LICENSES & PERMITS $860K

CHARGES FOR SERVICE $460K

FINES & FORFEITURES $790K

IMPACTS

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PHOTO BY HALEY MORRISON / COMMUNITY IMPACT NEWSPAPER AND PHOTO ILLUSTRATION BY ELYSSA TURNER

As virus continues, city revenue sources remain safe Property values soar as sales tax drops in Pearland but rises in Friendswood tax to bolster their budgets, leadership in both cities is optimistic. Brazoria County property values are projected to be 13% higher than last year and Gal- veston County values are projected to be 15% higher, according to appraisal district o ffi cials. BY HALEY MORRISON

tax allocation in March, while Friend- swood saw an increase. Property values increase This year’s property tax values have started to trickle in, with numbers fi rst estimated in January. The property valuation estimates will give a good idea of howmuch money cities have to work with for their budget. “The good news is that the prop- erty taxes, which is the largest source of revenue funds, have already exceeded projections, so that will not be a ff ected,” McCarter said. Since the values that will come in

Though Pearland and Friendswood are beginning their budget seasons, the cities may not know what the fi nal fi nancial toll of the coronavirus will be until much later. “No one knows what the impacts are going to be. I think our focus right now is on fi scal year 2020 and making deci- sions that put us in the best place for the future,” Pearland Assistant Direc- tor of Finance John McCarter said. Both Pearland and Friendswood are remaining fl exible, and they are hoping next year’s budget will not be badly a ff ected. As both cities rely more heavily on property taxes than sales

CITY & COUNTY

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CORONAVIRUS COVERAGE

“We are very fortunate that property taxes are our main revenue sources,” said Katina Hampton, Friendswood’s director of administrative services. Both Pearland and Friendswood rely on sales tax for around 20%-25% of the revenue for the general fund budget. According to data from the Texas Comptroller, Pearland saw a slight decrease in year-over-year sales

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