Title
Consider approving Resolution No. 2019-109 ratifying the property tax revenue increase reflected in the 2019-20 fiscal year budget; and take appropriate action
Body
BACKGROUND:
Texas Local Government Code Section 102.007(c) requires that adoption of a budget that raises more property tax revenue than was generated the previous year requires a record vote of the City Council to ratify the property tax revenue increase reflected in the budget in addition to and separate from the vote to adopt the budget and the vote to set the tax rate.
DISCUSSION:
Ordinance No. 3587, approved just prior to this item, adopted the 2019-20 fiscal year budget and requires raising more revenue from property taxes than in the 2018-19 fiscal year.
Public hearings concerning the proposed tax rate were held on August 20, 2019 and September 3, 2019. A public hearing concerning the proposed budget was also held earlier this evening. All applicable laws and City Charter provisions necessary for adoption of the budget have been followed.
FISCAL IMPACT:
1. Financial Impact - Supports the City’s Budget
RECOMMENDATION:
City Administration recommends approving Resolution No. 2019-109 ratifying the property tax revenue increase reflected in the 2019-20 budget.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution No. 2019-109 ratifying the property tax revenue increase reflected in the 2019-20 fiscal year budget.
2. I move to approve Resolution No. 2019-109, with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENT(S):
1. Resolution No. 2019-109