Hold a public hearing regarding the 2013-14 Proposed Budget. Section 5, Article VII, of the City Charter requires that a public hearing be held on the Proposed Budget for the coming fiscal year. At the public hearing, all interested persons shall be given an opportunity to be heard for or against any item contained in the Proposed Budget. The 2013-14 Proposed Budget has been available for public inspection in the City libraries, in the City Secretary’s Office, and on the City’s website since August 7, 2013. A public hearing on the Proposed Budget was previously held on Tuesday, August 20, 2013. The 2013-14 Budget is scheduled for adoption on September 3, 2013.
2. Hold a public hearing regarding the 2013-14 Proposed Tax Rate. The Texas Property Tax Code, Section 26.05 (d), provides that a governing body may not adopt a tax rate that exceeds the lower of the rollback tax rate or the effective rate until the governing body has held two public hearings on the proposed tax rate and has otherwise complied with Section 26.06 and Section 26.065. The 2013-14 Proposed Budget is based on a tax rate of 70.46 cents per $100 of valuation, which does exceed the effective tax rate of 70.43 cents due to a 0.6% increase in the tax base but does not exceed the rollback rate of 73.59 cents. A previous public hearing was held on Tuesday, August 20, 2013. Proposed Tax Rate Current Change Proposed O&M 39.40 0.00 39.40 Debt Service 31.06 0.00 31.06 TOTAL TAX RATE 70.46 0.00 70.46 3. Adjourn.
Aug 29, 2013 Special City Council
Hold a public hearing regarding the 2013-14 Proposed Budget. Section 5, Article VII, of the City Charter requires that a public hearing be held on the Proposed Budget for the coming fiscal year. At the public hearing, all interested persons shall be given an opportunity to be heard for or against any item contained in the Proposed Budget. The 2013-14 Proposed Budget has been available for public inspection in the City libraries, in the City Secretary’s Office, and on the City’s website since August 7, 2013. A public hearing on the Proposed Budget was previously held on Tuesday, August 20, 2013. The 2013-14 Budget is scheduled for adoption on September 3, 2013.
2. Hold a public hearing regarding the 2013-14 Proposed Tax Rate. The Texas Property Tax Code, Section 26.05 (d), provides that a governing body may not adopt a tax rate that exceeds the lower of the rollback tax rate or the effective rate until the governing body has held two public hearings on the proposed tax rate and has otherwise complied with Section 26.06 and Section 26.065. The 2013-14 Proposed Budget is based on a tax rate of 70.46 cents per $100 of valuation, which does exceed the effective tax rate of 70.43 cents due to a 0.6% increase in the tax base but does not exceed the rollback rate of 73.59 cents. A previous public hearing was held on Tuesday, August 20, 2013. Proposed Tax Rate Current Change Proposed O&M 39.40 0.00 39.40 Debt Service 31.06 0.00 31.06 TOTAL TAX RATE 70.46 0.00 70.46 3. Adjourn.