HomeMy WebLinkAboutItem 08 - Ad Valorem Tax Rate MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: AUGUST 4, 2026
SUBJECT: RESOLUTION APPROVING THE PROPOSED PROPERTY TAX RATE
FOR USE IN DEVELOPING FISCAL YEAR 2027 BUDGET
RECOMMENDATION: City Council to consider a resolution for the approval of the use of the
proposed ad valorem tax rate.
FUNDING SOURCE: Resolution has no impact on City funds.
BACKGROUND: The amounts were not available by the posting deadline and will be
available at the meeting on August 4. This resolution will be provided
pursuant to Section 26.04 of the Texas Property Tax Code which requires
the No New Revenue Tax Rate, the Voter Approval Tax Rate, and the
calculations used to determine each rate be submitted to the City Council.
In addition, a record vote of the Council must be taken approving the
City's proposed ad valorem tax rate used in calculating the ad valorem tax
revenue in the Fiscal Year 2027 Budget.
Staff recommends approval.