Title
Consider and take action on an ordinance approving an ad valorem tax rate for the City of League City, Texas, upon all taxable property within the corporate limits of the City for the Fiscal Year ending September 30, 2019; directing the assessment and collection thereof; providing for a severability clause; and providing for an effective date (Director of Finance)
Staff requests first and final reading.
Background:
Approval of this ordinance will set a property tax rate of $0.563800 per $100 for Fiscal Year 2019.
Section 102.009 (a) of the Local Government Code states "The governing body of the municipality may levy taxes only in accordance with the budget." On September 11, 2018, City Council adopted the FY 2019 Budget based on a property tax rate of $0.563800 per $100 of valuation. At this same meeting, under separate votes, the City Council proposed a tax rate of $0.563800 per $100 for Fiscal Year 2019 and ratified a tax increase based upon a tax rate of $0.563800 per $100 valuation. Since the proposed tax rate of $0.563800 does not exceed the lower of the effective tax rate or rollback rate, public hearings are not required.
Total Tax Rate $0.563800
Debt Rate $0.150002
M&O Rate $0.413798
Effective M&O Rate $0.497499
Effective Rate $0.572255
Rollback Rate $0.599476
Attachments
1. Data Sheet
2. Tax Rate Ordinance
FUNDING
{x} NOT APPLICABLE
STRATEGIC PLANNING
{x} NOT APPLICABLE