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CITY COUNCIL AGENDA COMMUNICATION |
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| | | | | | | | AGENDA DATE: | August 9, 2016 |
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| | | | | | | | SUBJECT: | Set August 23, 2016, as the First Public Hearing Date and September 6, 2016, as the Second Public Hearing Date Regarding the Fiscal Year 2016-2017 City Tax Rate. |
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| | | | | | | | STAFF RESOURCE: | Eric Cannon, Chief Financial Officer
Chris Landrum, Budget Manager |
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| | | | | | | | ACTION PROPOSED: | Set August 23, 2016, as the First Public Hearing Date and September 6, 2016, as the Second Public Hearing Date Regarding the Fiscal Year 2016-2017 City Tax Rate. |
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| | | | | | | | BACKGROUND
According to the Texas Truth-in-Taxation Statute, the City Council is required to set and conduct two public hearings if the City's proposed tax rate exceeds the lower of the rollback rate or the effective tax rate. The City always conducts public hearings on the tax rate, even in years that the Truth-in-Taxation limits are not exceeded.
If public hearings are required as described above, the law requires that the second hearing cannot be held earlier than the third day after the date of the first hearing. In addition, the meeting to vote on the tax rate may not be earlier than the 3rd day or later than the 14th day after the date of the second public hearing.
Finally, notice of both public hearings must be posted on the City's website from the date the notice is first published until the second public hearing is concluded.
It is also important to note that setting the public hearing dates for the tax rate and the fiscal year budget need to be done as separate items with the City Council taking action on each of the items separately.
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| | | | | | | | BUDGETARY IMPACT
The proposed tax rate for the City's General Fund and Debt Service Fund for the fiscal year 2017 budget is $0.525 per $100 of appraised value, which is a reduction from the current tax rate of $0.53.
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| | | | | | | | STAFF RECOMMENDATION
Staff recommends the City Council set Tuesday, August 23, 2016, at 7:00 PM as the first Public Hearing date on the tax rate and September 6, 2016, at 6:00 PM as the second Public Hearing date. The Public Hearings will be held in the Council Chambers at Allen City Hall, One Allen Civic Plaza, 305 Century Parkway, Allen, Texas. The final record vote on the tax rate will be on September 13, 2016.
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| | | | | | | | MOTION
I make a motion to set Tuesday, August 23, 2016, at 7:00 P.M., and Tuesday September 6, 2016, at 6:00 P.M. at Allen City Hall, One Allen Civic Plaza, 305 Century Parkway, Allen, Texas as the dates, time, and place for the first and second Public Hearings on the proposed City Tax Rate of 52.5 cents per $100 of appraised value for the Fiscal Year 2016-2017.
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