Leon Valley
TX

Staff Report
17-78

Conduct First Public Hearing on the Proposed 2017 Tax Rate of $0.556599/$100 Valuation which Exceeds the Effective Tax Rate of $0.533943/$100 by 4.243150% and is $0.012942 Lower Than the Rollback Tax Rate of $.569541/$100.

Information

Department:FinanceSponsors:
Category:Public Hearing

Attachments

  1. Printout
  2. First 2017 Tax Rate Public Hearing

Body

PURPOSE

 

Last year the City of Leon Valley Property Tax Rate was $0.556599/$100. This year the City of Leon Valley is proposing a Property Tax Rate of $0.556599/$100, which is the same tax rate as last year.

 

The Property Tax Code, Chapter 26 requires a governing body to conduct two public hearings if the proposed tax rate exceeds the lower of the rollback tax rate or the effective tax rate, whichever is lower. The 2017 proposed Tax Rate of $0.556599/$100 exceeds the Effective Tax Rate of $0.533943/$100 by 4.243150%.

 

The 2017 Tax Rate is for the calendar year 2017 and is based on property values as of January 1, 2017. It funds the General Fund and Debt Service Fund budgets for Fiscal Year 2018.

 

This is the first public hearing to consider that increase. The second public hearing will be held on September 12, 2017, at 6:00 p.m. in the City Council Chambers, 6400 El Verde Road, Leon Valley, Texas 78238.

 

The vote on the Proposed Tax Rate will be on September 19, 2017, at 6:00 p.m. in the City Council Chambers, 6400 El Verde Road, Leon Valley, Texas 78238.

 

SEE LEON VALLEY

 

Social - A responsible municipal budget strives to allocate taxpayer dollars in an efficient and effective manner that represents all citizens equally. Public Hearings ensure the citizens of Leon Valley transparency in Government.

 

Economic - Utilizing taxpayer monies to maximize public safety, city administration and city programs/services allows the City to actively pursue Economic Development opportunities.

 

Environmental - The City’s El Verde by 2020 initiative continues to be supported through careful allocation of budgetary dollars that promotes sustainability. Ad Valorem Taxes are the most stable source of revenue for the General Fund.

 

FISCAL IMPACT

 

Funds to publish the Notice of Public Hearing are included in the City’s Fiscal Year 2017 budget.

 

Meeting History

Sep 5, 2017 6:00 PM  City Council Regular Meeting

Finance Director Vickie Wallace presented this item saying that last year the City of Leon Valley Property Tax Rate was $0.556599/$100. This year the City of Leon Valley is proposing a Property Tax Rate of $0.556599/$100, which is the same tax rate as last year.

The Property Tax Code, Chapter 26 requires a governing body to conduct two public hearings if the proposed tax rate exceeds the lower of the rollback tax rate or the effective tax rate, whichever is lower. The 2017 proposed Tax Rate of $0.556599/$100 exceeds the Effective Tax Rate of $0.533943/$100 by 4.243150%.

The 2017 Tax Rate is for the calendar year 2017 and is based on property values as of January 1, 2017. It funds the General Fund and Debt Service Fund budgets for Fiscal Year 2018.

This is the first public hearing to consider that increase. The second public hearing will be held on September 12, 2017, at 6:00 p.m. in the City Council Chambers, 6400 El Verde Road, Leon Valley, Texas 78238.

The vote on the Proposed Tax Rate will be on September 19, 2017, at 6:00 p.m. in the City Council Chambers, 6400 El Verde Road, Leon Valley, Texas 78238.

Mayor Riley opened the public hearing at 8:45 p.m. and there being no public comment closed the public hearing at 8:45 p.m.

No action was taken.

Discussion