Board of Directors Regular Meeting Agenda


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Meeting Date: 02/22/2018  

SUBJECT MATTER:
Receive, consider and act upon a meeting schedule for review and approval of the 2019 Budget and 2018 Property Tax Rate; 
FISCAL IMPACT:
Not applicable
BACKGROUND:
The proposed meeting schedule for review and approval of the 2019 budget and 2018 property tax rate is attached for the Board’s consideration.  The calendar has been drafted assuming the following guidelines, legal requirements, and deadlines.
 
  • Previous Boards have expressed a desire to conduct all budget workshop meetings during the same calendar week.
  • Previous Boards have preferred to schedule budget workshops only after effective tax rate and rollback tax rate information is available from the Tax Assessor’s Office.
  • The Montgomery County tax assessor is tentatively scheduled to publish effective and rollback tax rates on Monday, August 6, 2018.
  • At the conclusion of its budget workshop meetings, the Board must take a vote on a proposed tax rate to determine if public hearings are required.  As a reminder, if the Board approves a proposed tax rate greater than the lower of the effective tax rate or the rollback rate, two public hearings are required before the Board can vote on the adopted tax rate.
  • A “Notice of Public Meeting on Tax Increase” must be published a minimum of seven days prior to the first public hearing on the tax rate.  The notice is published in the newspaper and on the Township’s website.  The tax rate ultimately adopted by the Board may be lower than the published proposed rate, but it cannot be higher.
  • There must be at least three days between the first and second public hearings.
  • The tax rate must be adopted by the governing body between 3 – 14 days after the second public hearing.
  • The Montgomery County tax assessor is requiring each governing body to submit its adopted tax rate no later than September 14, 2018 in order to be included on the consolidated tax statement that will be mailed to taxpayers during the first week of October 2018.


 
RECOMMENDATION:
Approve the meeting schedule for the review and approval of the 2019 budget and 2018 property tax rate.
 
Attachments
Meeting Schedule for 2019 Budget


    

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