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Conduct a public hearing on the Proposed Fiscal Year 2021-22 Operating and Capital Improvement Program Budget in accordance with Article IV of the City Charter; and take appropriate action
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DISCUSSION:
A public hearing is being held to consider the Proposed Fiscal Year 2021-22 Operating and Capital Improvement Program Budget. The proposed budget was filed with the City Secretary on July 30, 2021 and copies were made available for public inspection at City Hall and on the City's website.
The City Council conducted a budget retreat August 10th thru August 12th to discuss and review the budget. The budget retreat was recorded in its entirety and is available on the City's channel on YouTube. A public work session was also held August 17th and a discussion was held earlier this evening. The City Council will hold another meeting to discuss the budget, vote to adopt the budget, and ratify the tax revenue increase reflected in the budget on September 21, 2021. A public hearing will also be held to discuss the tax rate on September 21, 2021 and a vote to adopt the tax rate will take place later that same evening. The public hearing to discuss the tax rate will be held at 6:00 p.m. at the City of Farmers Branch, City Hall Council Chambers, located at 13000 William Dodson Parkway, Farmers Branch, Texas 75234.
Subsequent to public budget deliberation meetings, the current proposed budget is based on maintaining the current tax rate of $0.589. Maintaining the current tax rate will result in a property tax levy that will raise more revenue from property taxes than in the preceding year. The budget would raise more total property taxes than last year's budget by $3,696,537 or 10.17%, and of this amount, $2,062,162 is tax revenue to be raised from new property added to the tax roll this year. The City Council will motion to approve the maximum tax rate it intends to consider later this evening
The procedure tonight will be as follows:
1. The Mayor will op...
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