| | | | | | | | City of Georgetown, Texas
City Council Special Meeting
September 3, 2019 |
| | | | | | | | SUBJECT:
Public Hearing on the proposed 2019 Property Tax Rate used for the FY2020 Annual Budget -- David Morgan, City Manager |
| | | | | | | | ITEM SUMMARY:
The Texas Tax Code requires the City Council to hold two public hearings on the proposed tax rate prior to adoption if the proposed rate exceeds the lower of the effective or rollback tax rate.
The 2019 proposed tax rate of $0.42000 exceeds the effective rate of $0.413261. The rate is required to fund FY2020 City operating costs, debt service on bonds for infrastructure, and various enhancements to City services to meet the demands of growth in the community. The Council is not required to adopt this rate; however, this is the maximum rate the Council may consider as set by Council action on August 6, 2019.
An overview of the tax calculation and related General Fund revenue and expenditure information was reviewed with Council at budget workshops held on July 17, and when the City Manager presented the Proposed Budget to Council on August 6.
The proposed FY2020 Annual Budget is available with the City Secretary and on the City’s website at finance.georgetown.org.
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| | | | | | | | SUBMITTED BY:
David Morgan, City Manager |
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