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 2020.
Summary
The truth in taxation process requires the City to hold two public hearings on the tax increase proposed for fiscal year (FY) 20. The the first public hearing was held on September 10, 2019 and the second public hearing was held on September 17, 2019. These public hearings were required because the maximum proposed tax rate for FY20 is higher than the calculated effective rate of $0.4737 and will raise more ad valorem tax revenue.
Attached to this agenda item are tax levy ordinances for adoption of a Council proposed rate of $0.5016 and the proposed maximum property tax rate of $0.5045. The Council proposed rate of $0.5016 reflects the rate that includes requested adjustments to the FY20 Proposed Budget as discussed on September 17, 2019. The proposed maximum property tax rate of $0.5045 is the proposed rate approved on August 27, 2019 and is equivalent to the FY20 calculated rollback rate. Both rates are an increase from the FY19 adopted rate of $0.4976. The ordinances include language required by Texas Tax Code, Chapter 26, and have been reviewed and approved as to form by the City Attorney's Office.
The ordinance adopted tonight will set a tax rate to be effective October 1, 2019. Consideration of either the Council proposed rate ($0.5016) or the proposed maximum property tax rate ($0.5045) 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 (5 members) voting in favor of the action.
Prior City Council Action
On August 27, 2019 a proposed maximum property tax rate of $0.5045/$100 property valuation was approved.
The City Council held the first public hearing on the tax rate on September 10, 2019.
The City Council held the second public hearing on the tax rate on September 17...
Click here for full text