CITY COUNCIL AGENDA COMMUNICATION
|AGENDA DATE:||September 10, 2019|
Adopt an Ordinance Setting the Tax Rate for the Fiscal Year 2019-2020 Budget.
Eric Cannon, Chief Financial Officer
Chris Landrum, Budget Manager
Rebecca Brack, Budget Officer
|PREVIOUS COUNCIL ACTION:||The City Council held public hearings on the Tax Rate on August 13, 2019, and August 27, 2019.|
|ACTION PROPOSED:||Adopt an Ordinance Setting the Tax Rate for the Fiscal Year 2019-2020 Budget.|
budget process for the City of Allen begins in January and culminates
in the action by the City Council to adopt the budget and set the tax
rate. This process includes the City Council Strategic Planning session
held in January, the City Council Budget Workshop that was held August
16 - August 18, and Public Hearings on the Budget and Tax Rate held on
August 13 and August 27.
After the budget is adopted, the Council
must adopt an ordinance setting the tax rate. This action completes the
budget process. The tax rate includes two components: a levy for the
General Fund (maintenance and operations) and a levy for debt service.
The ordinance requires the City's tax collector to collect and deposit
those funds in the City's accounts in accordance with the allocation
between maintenance and operations and debt as designated in this
Sets the tax rate for the Fiscal Year 2019-2020 budget.
Staff recommends the City Council adopt an Ordinance setting the tax rate of $0.489 for the Fiscal Year 2019-2020 budget.
move that the property tax rate be increased by the adoption of a tax
rate of 0.489, which is effectively a 0.67 percent increase in the tax rate, and adopt Ordinance No.
_____________ setting that tax rate for the Fiscal Year 2019-2020.