Title
Consideration of and action on an ordinance calling a public hearing on the proposed 2020 Tax Rate.
Body
Summary: The Texas Constitution sets forth general requirements for truth-in-taxation, including a number of public notices to inform taxpayers about local property taxes. For tax year 2020 (fiscal year 2020-2021), the no-new revenue tax rate (formerly the effective tax rate) is $0.715264 per $100 valuation and the voter-approval tax rate (formerly the rollback tax rate) is $0.731826 per $100 valuation. The proposed tax rate is $0.720000 per $100 valuation, which is the basis for the ad valorem tax revenue in the proposed Fiscal Year 2020-2021 budget. Because the proposed tax rate exceeds the no-new revenue tax rate, the City Council must specify the proposed tax rate and take a record vote to adopt the rate at a future meeting. If the record vote to specify a proposed tax rate of $0.720000 per $100 valuation and adopt that rate at a future meeting passes, City Council must schedule a public hearing on that proposed tax rate.
In anticipation that City Council may take such action, the recommended date for said public hearing, should it be required, is Tuesday, September 15, 2020, at 7:30 p.m. in the Council Chamber at City Hall, 710 E. San Augustine, Deer Park, TX 77536. In accordance with the City's planning calendar, which is based on the truth-in-taxation requirements, the City Council will be asked to consider and vote on adoption of the tax rate at the regular meeting of the City Council on Tuesday, September 15, 2020, a public meeting that will follow this public hearing.
Fiscal/Budgetary Impact:
N/A.
Recommended action
Approve the ordinance calling a public hearing on the proposed tax rate for tax year 2020, if necessary.