City Council Combined AGENDA

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26.

Meeting Date:	09/19/2019
Prepared By:	Robert Powers, Finance Director

AGENDA SUBJECT:

Discuss and consider action on the Second and Final Reading of an Ordinance levying ad valorem taxes for the use and support of the municipal government of the City of Leander, Texas, for the Fiscal Year 2020; providing for and apportioning each levy for specific purposes; and providing when taxes shall become due and when the same shall become delinquent if not paid.

BACKGROUND:

The City Charter requires two (2) readings for any Ordinance levying taxes. On August 22, 2019, the City Council voted to consider a tax rate not to exceed $0.541867 which is below the Effective Tax Rate of $0.548034 per $100 valuation. This Proposed Rate consists of two (2) parts - the Debt Rate of $0.222000 and the Maintenance and Operations (M&O) Rate of $0.319867. Prior to action on the Second and Final Reading of the tax rate, the City Council must adopt a budget with or without amendments for Fiscal Year 2020. The first reading of the tax rate Ordinance was held on the September 5, 2019 regular meeting.

PRESENTER:

Robert G. Powers, Finance Director

Attachments
1. Tax Rate Ordinance