Houston mayor requests state 'rainy day' fund to pay for Harvey damage
HOUSTON, Texas (KTRK) -- Houston Mayor Sylvester Turner has requested from Texas Gov. Greg Abbott to tap the state's "rainy day" fund in order to pay for the damage left behind by Hurricane Harvey.
The request, which was made official in a letter sent Monday, is an attempt to avert the city from raising property taxes on a temporary basis for 12 months.
In the letter, Turner outlined the expenses expected on Houston's part to address Harvey's damage. Those expenses include $25 million for debris removal, $10 million for a flood insurance policy that will cover up to $100 million for a future flood event, and $15 million on an insurance deductible to cover municipal property damage.
Turner said the city already tapped into the $20 million reserve, and that Houston "may be forced to increase its property tax rate to raise sufficient funds to meet these needs if we do not receive assistance from the State."
Turner's request to the city council entails an average tax of $4.03 per month for each dwelling. The proposal, which was once higher than currently proposed, was met with backlash among residents.
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The Texas Economic Stabilization Fund, or "Rainy Day Fund," contains more than $10 billion of taxpayer money, according to the letter.
You can view the full letter through the City of Houston website here.
