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Item # 12.
         
Work Session and Regular Meeting
Meeting Date: 09/10/2019  
Department: Finance  
Pillars: Gold Standard in Financial Health

AGENDA CAPTION:
Present, Discuss, and Consider Action on an Ordinance to Ratify the Property Tax Increase Reflected in the Town's Annual Budget for the Fiscal Year Commencing October 1, 2019, and Ending September 30, 2020.
BACKGROUND:

Section 102.007 of the Local Government Code requires a governing body that adopts a budget which raises more revenue from property taxes than in the previous year to ratify, by a separate vote, the property tax increase reflected in the budget. A vote under this subsection is in addition to and separate from the vote to adopt the budget or a vote to set the tax rate required by Chapter 26, Tax Code, or other law. The proposed Fiscal Year (FY) 2020 budget will raise more revenue from property taxes than in the previous year, and therefore requires a separate vote of the City Council to ratify the property tax increase reflected in the budget.

RECOMMENDATION:

Administration recommends approval.

Attachments
Ordinance - Fiscal Year 2020 Ratify Tax Rate

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