Title
Approving an ordinance on first reading with the caption reading: TAX LEVY ORDINANCE OF THE CITY OF PFLUGERVILLE, TEXAS.
Summary
After the fiscal year 2015 budget is approved by the City Council, the proposed tax rate must be approved. For the eleventh year in a row, the proposed tax rate has been lowered from the previous year's tax rate. The proposed rollback rate of $.5390 per $100 of valuation is $.0346 lower than the previous year's rate of $.5736. The proposed rate is composed of $.1636 for debt service and $.3754 for maintenance and operations.
The tax levy ordinance is attached to this agenda item.
The first public hearing on the tax levy ordinance was held on September 9, 2014. The second public hearing on the tax levy ordinance was held on September 16, 2014.
Fiscal Impact
The fiscal impact is outlined in the proposed budget document.
Staff Recommendation
Approve the ordinance on first and final reading with motions shown below.
Legal Counsel advises that the rate be adopted in four separate motions, adopted individually, as follows:
1. "I move that the property tax rate be increased by the adoption of a tax rate of $.5390, which is effectively a 3.7% increase in the tax rate."
2. "I move to approve a debt service tax rate of $.1636 per $100 of valuation for the 2014 tax year."
3. "I move to approve a maintenance and operations tax rate of $.3754 per $100 of valuation for the 2014 tax year."
4. "I move to approve the tax ordinance as presented."
Drafter
Lauri Gillam
Assistant City Manager