HomeMy WebLinkAboutItem 05 - Tax Rate MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER )
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MEETING DATE: SEPTEMBER 5, 2017
SUBJECT: FIRST PUBLIC HEARING ON AD VALOREM TAX RATE
RECOMMENDATION:
That the City Council conduct a public hearing on the proposed ad valorem tax rate of
$0.289271 per $100 valuation for tax year 2017 and FY 2018 apportioned as follows:
For the General Fund, a tax rate of$0.134740 per $100 value;
For Debt Service, a tax rate of$0.154531 per $100 value.
BACKGROUND:
Pursuant to the Texas Tax Code, Section 26.05(d), a municipal government must hold two
public hearings when considering the adoption of a tax rate other than the effective tax
rate.
The second public hearing will be held at a Special City Council meeting on September 8
at 11:45 am. The City Council will consider an ordinance adopting the tax rate at a Special
City Council meeting on September 13 at 11:45 am.