| | | | | | | | City of Georgetown, Texas
City Council Special Meeting
August 6, 2019 |
| | | | | | | | SUBJECT:
Consideration and possible action to set the maximum tax rate and adopt the proposed 2019 (FY2020) property tax rate on a future agenda -- Leigh Wallace, Finance Director |
| | | | | | | | ITEM SUMMARY:
State law requires that all taxing jurisdictions participate in the process of Truth-In-Taxation. When a proposed property tax rate exceeds the lower of 100 percent of the effective rate or the rollback rate, the Council must adopt a maximum proposed tax rate that it will consider. State law requires that the vote to adopt a proposed maximum rate must be a roll call vote, indicating any absences from the dais. Even though the Council votes to consider a proposed tax rate above the effective rate, the Council may, as a result of deliberations, adopt a tax rate at or below the rate stated in the published notices.
The Effective Rate is $0.413261. The Rollback Rate is $0.430202. The proposed tax rate for 2019 (FY2020) of $0.420000 is greater than the Effective Rate. Therefore, the City Council will publish notices and hold two public hearings.
The language included in this motion is required by State law.
Vote to set the maximum property tax rate of $0.42000 cents per $100 valuation, equaling $0.195472 cents for Maintenance and Operation and $0.224528 cents for Debt Service, and adopt the tax rate as an action item at the September 10, 2019 Council meeting to be held at 6 p.m. at City Council Chambers, at 9th and Martin Luther King Jr Streets, Georgetown, TX.
This is a record vote, meaning the voting record for this item will be published with the required notices. This item only sets the item to be voted on and does not commit Council to adopting the proposed rate.
COMMENTS:
The Williamson Central Appraisal District (WCAD) certified the tax roll on July 18, 2019.
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| | | | | | | | SUBMITTED BY:
Leigh Wallace, Finance Director |
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