Title
Conduct a public hearing on the proposed property tax rate of $0.4970.
Summary
Summary of Tax Rates:
No-New-Revenue Tax Rate: $0.4504
Un-Adjusted Voter-Approval Tax Rate: $0.4970
Unused Increment: $0.0135
Voter-Approval Tax Rate: $0.5105
Based on the certified property values received from the Travis and Williamson Central Appraisal Districts, the Travis County Tax Office has calculated the voter-approval rate at $0.5105/$100 valuation and the no-new-revenue rate at $0.4504/$100 valuation. As required by the Texas Tax Code, this information has been published on August 7, 2021, on the City website www.pflugervilletx.gov/budget and both the Travis (https://travis.trueprodigy-taxtransparency.com) and Williamson (https://williamsonpropertytaxes.org) Central Appraisal District Truth in Taxation websites. In addition, the Notice of Public Hearing on Tax Increase was published in the Austin American Statesman on August 19, 2021, as required by Tax Code ยง26.061.
On August 10, 2020, the City Council adopted a resolution specifying a maximum property tax rate for FY21 of $0.4970/$100 valuation, which equates to an operating revenue increase of 3.5%. In accordance with Texas Tax Code 26.05(b), at least 60% (5 out of 7) of the members of Council must vote in favor of the proposed tax rate in order for it to be adopted since the proposed tax rate exceeds the no-new-revenue tax rate.
Attached to this agenda item is the tax levy ordinance that will be considered for adoption at this meeting following the adoption of the budget.
Prior City Council Action
The City Council approved a proposed maximum property tax rate of $0.4970/$100 property valuation on August 10, 2020.
Deadline for City Council Action
This public hearing has been advertised for this date and must be conducted this evening prior to consideration of the tax rate ordinance.
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes _X_ No __ N/A __
Amount: ___$35,711,774 in...
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