From
Cheryl Davenport
Title
Place a proposal on the September 19, 2017 agenda to adopt a 2017 proposed tax rate of $0.00669998/$100 valuation, and, call two public hearings on a tax rate that exceeds the effective tax rate for August 15, 2017 and September 5, 2017.
Presenter
Diana Ortiz
Recommended Action
Approve
Analysis
The Truth in Taxation laws require the City to make proposed tax rate information available to citizens, and, that they have the opportunity to comment. This process begins with the city to discuss the proposed tax rate and schedule two public hearings. The public hearings are recommended to be on August 15, 2017 and September 5, 2017 that are regular, scheduled council meeting dates.
Municipalities are required to publish their effective and rollback tax rates and other schedules in the newspaper, website and on government access channel. The rollback tax rate divides the overall property taxes into two categories-maintenance and operations (M & O) and debt service (I & S). By state law, the rollback rate for taxing units is set at an 8% increase in M &O. This rate excludes taxes on properties that are no longer in the taxing unit, and, it also excludes the current taxable values of new properties (growth).
Texas Property Tax Code Section 26.06 (b), Notice of Public Hearing on Tax Increase, requires the dates, times, and places of the public hearings and a statement showing how each member of the governing body voted on the proposal to consider the tax increase or, if one or more were absent, indicating the absences.
Financial Consideration
None