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Special City Council Meeting
Meeting Date: 09/04/2019  

Information
Agenda Item
Public Hearing - Finance:  Hold a public hearing on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 4.07% (percentage by which the proposed tax rate exceeds the effective tax rate calculated under Chapter 26, Tax Code).
Item Summary
On August 13, 2019 the City Council approved a resolution for a proposed maximum tax rate of $0.55802 cents per $100 valuation.  The City held the first public hearing on August 27, 2019.  A property tax rate of $0.55802 per $100 valuation is proposed.  The tax rate is distributed as follows:
 
General Fund Maintenance and Operations $0.40309
Interest and Sinking Fund 0.13178
Economic Development 0.02315
Fiscal Impact
The tax rate is scheduled to be adopted at the September 10, 2019, City Council Meeting.  The fiscal impact of that decision is unknown until the tax rate is chosen and adopted.
Staff/Board Recommending
 D. Blu Kostelich, Chief Financial Officer

Attachments
Tax Rate Public Hearing Notice
Suggested Language for Announcement

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