Title
Conduct a public hearing on the proposed property tax rate of $0.4813.
Summary
Summary of Tax Rates:
Proposed Tax Rate: $0.4813
No-New-Revenue Tax Rate: $0.3966
Voter-Approval Tax Rate: $0.4813
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 $0.4813 valuation and the no-new-revenue rate at $0.3966/$100 valuation. As required by the Texas Tax Code, this information has been published on August 1, 2022, 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 September 04, 2022, as required by Tax Code ยง26.061.
On August 09, 2022, the City Council adopted a resolution specifying a maximum property tax rate for FY23 of $0.4812/$100 valuation, which equates to a slight decrease operating revenues from 2022 projections. 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.
Prior City Council Action
On August 9, 2022 City Council approved a proposed maximum property tax rate of $0.4813/$100 property valuation.
Deadline for City Council Action
Council must take action this evening to adopt the tax rate.
Funding Expected: Revenue __ Expenditure __ N/A X__
Budgeted Item: Yes __ No __ N/A _X_
Amount: N/A________
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A _X_ Required ___ Date Completed: ____________
Supporting documents attached:
Notice of Public Hearing on Tax Increase
Final Tax Rate Calculation 2022 Tax Office
Recommended Action
Staff recommend...
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