Title
Discuss and consider action to approve an ordinance on first and final reading with the caption reading: TAX LEVY ORDINANCE OF THE CITY OF PFLUGERVILLE, TEXAS FOR FISCAL YEAR 2018.
Summary
On Tuesday, September 26, 2017, the City Council will vote on the ordinance setting a tax rate in order for the tax rate to be effective October 1, 2017. The current proposed rate ($0.5399) exceeds the effective tax rate and the Tax Code (ยง26.05(b)) requires a record vote with at least 60% of the members of the governing body voting in favor of the action.
Attached to this agenda item is a draft of the tax levy ordinance that includes the language required by Texas Tax Code, Chapter 26. This ordinance has been reviewed and approved as to form by the City Attorney's Office. The proposed rate of $0.5399 is the same as the FY17 adopted rate, but lower than the calculated FY18 rollback rate. The proposed maintenance and operation rate is an effective increase of 4.3% over the effective maintenance and operation rate.
The truth in taxation process requires the City to hold two public hearings on the tax increase proposed for fiscal year 2018. Public hearings for the proposed tax rate were held on September 12 and 19, 2017. These public hearings were required because the proposed tax rate for fiscal year 2018 of $0.5399 is higher than the calculated effective rate of $0.5018 and will raise more ad valorem tax revenue.
Prior City Council Action
The first public hearing was held on September 12, 2017 at 7:00 p.m., in the City Council Chambers, 100 East Main Street, Suite 500. The second public hearing was held on September 19, 2017 at 6:00 p.m., in the City Council Chambers, 100 East Main Street, Suite 500.
Deadline for City Council Action
All notices regarding the approval process for the property tax rate included the date of Tuesday, September 26, 2017, as the date that the City Council votes on the ordinance setting a tax rate for fiscal year 2018.
Fiscal Imp...
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