City Council Meeting


Print

Return to the Search Page Return to the Agenda
  G.3.       
Meeting Date: 09/17/2019  
Contact: Tracy Cormier, Managing Director of Financial Services

COUNCIL ACTION
Motion by Councilmember Byrd with a second by Councimember Marks to approve as presented. Motion passes 6-0.
AGENDA ITEM:
Consider and take a separate vote to ratify a property tax revenue increase as reflected in the FY 2019-2020 Annual Operating Budget when compared to the FY 2018-2019 Annual Operating Budget. This budget will raise more property taxes than last year's budget by $2,567,648; which is an 8.32% increase from last year's budget; and of that amount, $610,361 is tax revenue to be raised from new property added to roll this year. 
BACKGROUND:
Under Section 102.007 of the Local Government Code, after approval of the budget and before Tax Rate Ordinance, City Council will need to take a separate vote to ratify a property tax revenue increase of $2,567,648 as reflected in the FY 2019-2020 Annual Budget.  When compared to the FY 2018-2019 Annual Operating Budget, this year's budget  raises more property taxes than last years budget.   
FINDINGS:
N/A
FINANCIAL IMPACT:
This budget will raise more property taxes than last year's budget by $2,567,648; which is an 8.32% increase from last year's budget and, of that amount, $610,361 is tax revenue to be raised from new property added to tax roll this year. 
RECOMMENDATION:
Staff recommends City Council take a separate vote to ratify a property tax revenue increase as reflected in the FY 2019-2020 Annual Operating Budget, when compared to the FY 2018-2019 Annual Operating Budget.  This budget will raise more total property taxes than last year's budget by $2,567,648; which is an 8.32% increase from last year's budget; and of that amount, $610,361 is tax revenue raised from new property added to the tax roll this year.   
MANAGEMENT REVIEW

    

Level double AA conformance,
                W3C WAI Web Content Accessibility Guidelines 2.0

AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.