Thanks to a possible tax increase, Houston’s latest clean up after Harvey may be your wallet

Houston Mayor Sylvester Turner speaks with the media during a business forum in Havana, Cuba, Monday, Sept. 26, 2016. The forum was attended by business representatives from Houston and Havana, to explore opportunities in areas of health, sports, energy, commerce and art, according to local state-run media Cubadebate. (Ismael Francisco, Cubadebate via AP)

According to reports, Houston Mayor Sylvester Turner is set to seek approval from the City Council for a 8.9 percent bump in the city’s tax rate to go toward funding post-Harvey cleanup efforts.

RELATED: With Houston Needing to be Rebuilt, Undocumented Workers May Make up a Large Portion of the Labor Force

According to KHOU.com, the proposed tax increase would bring the price of property taxes up from 58.64 cents per $100 of appraised value to 63.87 cents.

On a $225,000 home, this increase would equate to about $10 per month in additional taxes paid – approximately $118 more over the course of a year.

The mayor said the proposal is a one-time tax increase set to expire after one year, and it cannot be renewed.

He estimates it would raise around $110 million – money which could be used to repair damaged city property and buildings.

If Houston’s City Council agrees to consider the increase, it would do so on October 18 and after three public hearings.

RELATED: Qatar Chips Away at Repair Costs After Harvey With the Largest Donation by a Foreign Government

What do you think?

You may be missing out on a free refund by riding the CTA

The five iconic most Chicago dishes you need to try this week