Title
Conduct a public hearing to consider adopting a maximum property tax rate of $0.61 on September 17, 2019; and take appropriate action.
Body
DISCUSSION:
A public hearing is being held to consider adopting a maximum property tax rate of $0.61 for the 2019-20 fiscal year. In compliance with the State Property Tax Code, the City Council passed a motion during the August 6, 2019, City Council meeting proposing that the City consider adopting a maximum property tax rate of $0.61. No tax rate was adopted at that meeting. Public hearings regarding this proposal were scheduled for: August 20, 2019 and September 3, 2019.
A Budget Retreat of the City Council was held on August 13-15, 2019 to discuss the City’s proposed budget. A discussion was also held earlier this evening to discuss the City’s proposed budget and proposed tax rate. Final budget and property tax rate adoption is scheduled to take place at the City Council meeting on September 17, 2019 at 6:00 p.m. All meetings will be held at the City of Farmers Branch, City Hall, located at 13000 William Dodson Parkway, Farmers Branch, Texas 75234, at 6:00 p.m.
No other City Council action is required on this item tonight.
The following procedure is recommended:
1. Mayor will open the public hearing.
2. Comments will be heard from citizens.
3. Hearing will be closed.
FISCAL IMPACT:
1. Financial Impact - Supports the City’s Proposed Fiscal Year 2019-20 Budget
ATTACHMENT(S):
1. Truth-in-Taxation Notice