Title
Consider and take action on a resolution ratifying the property tax increase in the Fiscal Year 2019 Operating Budget (Director of Budget & Project Management)
Background
Approval of this resolution will ratify the property tax increase in the Fiscal Year 2019 Operating Budget. Section 102.007 of the Local Government Code requires a governing body that adopts a budget which raises more revenue from property taxes than in the previous fiscal year to ratify the property tax increase reflected in the budget. A vote under this subsection is in addition to and separate from the vote to adopt the budget or a vote to set the tax rate as required by Chapter 26, Tax Code, or other law.
Financial Implications:
The Fiscal Year 2019 Budget will raise $1.54 million or 3.6% more total property taxes than last year's budget. Of that amount $1.24 million is tax revenue to be raised from new property added to the tax roll this year.
Attachments:
1. Data Sheet
2. Proposed Resolution
FUNDING
{x} NOT APPLICABLE
STRATEGIC PLANNING