Title
RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS SPECIFYING A PROPOSED FISCAL YEAR 2015 TAX RATE AND SCHEDULING THE DATES FOR PUBLIC HEARINGS
Summary
When a proposed tax rate exceeds the rollback rate or the effective rate, whichever is lower, the taxing unit's governing body must specify a proposed rate and place a proposal to adopt the rate on the agenda of a future meeting as an action item. This vote must be recorded and the proposal must specify the desired rate.
Due to the Travis Central Appraisal District's (TCAD) receipt of a record number of property tax protests, the process of certifying the tax rolls (normally complete on July 25th) has been delayed. The TCAD's Chief Appraiser estimates the tax rolls will be certified on August 18th. Once this certification is received, staff can work with Travis County to calcuate tax rate based on the certified assessed valuation to present updated rate information at the meeting. Current taxable property value estimates indicate that rollback and effective rates could be lower than originally calculated. The resolution for this item will be presented at the meeting.
Fiscal Impact
The fiscal impact of this item is outlined in the 2015 Proposed Budget.
Staff Recommendation
Adopt the resolution specifying the proposed tax rate and scheduling the public hearings.
Projected Future City Council Action
September 9, 2014 - Public Hearing on the Proposed Tax Rate
September 16, 2014 - Public Hearing on the Proposed Tax Rate
September 23, 2014 - Vote on adoption of the tax rate
Drafter
Lauri Gillam
Assistant City Manager