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, 2020; directing the assessment and collection thereof; providing for a severability clause; and providing for an effective date (Director of Budget & Project Management)
Staff requests first and final reading.
Background:
Approval of this ordinance will set a property tax rate of $0.548581 per $100 for 2019 Tax Year (Fiscal Year 2020).
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 10, 2019, City Council adopted the FY2020 Budget based on a property tax rate of $0.548581 per $100 of valuation. At this same meeting, under separate votes, the City Council proposed a tax rate of $0.548581 per $100 for 2019 Tax Year (Fiscal Year 2020) and ratified a tax increase based upon a tax rate of $0.548581 per $100 valuation. Since the proposed tax rate of $0.548581 does not exceed the lower of the effective tax rate or rollback rate, public hearings are not required.
Total Tax Rate $0.548581
Debt Rate $0.1444
M&O Rate $0.404181
Effective M&O Rate $0.488707
Effective Rate $0.548581
Rollback Rate $0.590415
Attachments
1. Data Sheet
2. Proposed Ordinance
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor # 2 and Initiative # 3E