09/22/2026
The Galveston City Council has approved the City’s Fiscal Year 2027 budget and adopted the 2026 property tax rate, establishing the financial framework for the City’s operations, public services and capital investments for the fiscal year beginning October 1, 2026.
The FY2027 budget was adopted with a no-new-revenue tax rate of $0.416273 per $100 of property valuation. Under Texas law, the no-new-revenue rate is calculated to generate the same revenue from ad valorem taxes as the prior year on properties taxed in both years. The budget represents a continued focus on maintaining essential City services while protecting the City's long-term financial position.
“Our responsibility is to provide the services our residents depend on, invest in the infrastructure and public safety needs of our community, and maintain the financial capacity to respond to challenges in the years ahead, and this budget reflects that approach,” City Manager Brian Maxwell said. “I also want to extend my sincere gratitude to the Finance Department and to staff across the City who spent countless hours working together to develop this budget.”
The budget provides approximately $250.1 million for operating funds, supporting the services residents and visitors rely on every day. Public safety remains a central priority, including funding for police, fire and emergency services. The budget also supports the City's public works and infrastructure responsibilities, including streets, drainage, water and wastewater systems, sanitation, parks and other municipal services.
In addition to annual operations, the City has adopted a five-year Capital Improvement Plan totaling approximately $347.8 million in identified capital projects. These projects represent investments in the City's infrastructure and long-term needs and are funded through a combination of available revenues, dedicated funds, grants, bonds and other sources as applicable.
The budget was developed with an emphasis on financial stability and responsible use of taxpayer resources. The budget projects approximately $84.7 million in ending fund balances across all City funds. Within the General Fund, the budget projects approximately 115.9 days of fund balance at year-end.
These balances provide the City with financial capacity to manage seasonal cash-flow fluctuations, respond to emergencies and disasters, and maintain the financial strength necessary to support the City's credit standing and future borrowing. Galveston's finances are subject to significant seasonal fluctuations. Maintaining adequate fund balance allows the City to manage those fluctuations without disrupting essential services.
The City's fiscal year begins October 1 and ends September 30. The City makes its budget, tax-rate documents and other financial information available online.
Financial Transparency is the guiding principle behind the city’s financial planning and implementation efforts. This page provides the major financial documents produced during each fiscal year (October 1 through September 30) in service towards that principle: