Legislation Details

File #: 24-3649    Version: 1 Name:
Type: Agenda Item Status: Regular Hearing
File created: 8/2/2024 In control: City Council
On agenda: 8/10/2024 Final action:
Title: Acceptance of the Report Identifying the Calculation of the 2024 No-New-Revenue and Voter-Approval Tax Rates, Authorization to Publish Notice as Required by the Texas Tax Code Section 26.061 and Provide Direction as to the Calculation of the Voter-Approval Tax Rate.
Attachments: 1. Staff Memorandum - 2024 Tax Rates - 08.05.pdf, 2. Agenda Attachment - Rate Calculation 2024
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title

Acceptance of the Report Identifying the Calculation of the 2024 No-New-Revenue and Voter-Approval Tax Rates, Authorization to Publish Notice as Required by the Texas Tax Code Section 26.061 and Provide Direction as to the Calculation of the Voter-Approval Tax Rate.

 

request

ADMINISTRATIVE COMMENTS:

 

Section 26.061 of the Texas Tax Code requires that the calculated no-new-revenue tax rate and voter-approval tax rate be submitted to the Council and that a notice of calculated no-new-revenue tax rate and voter-approval rates be published in a newspaper having general circulation in the county in which the municipality is located.  The calculated rates are as follows: 2024 No-New-Revenue Tax Rate - $0.408408, 2024 No-New-Revenue Maintenance and Operation Rate - $0.287230. The 2024 Debt Rate and 2024 Voter-Approval Rate to be published will be determined after City Council deliberation.  The preliminary calculations are 2024 Debt Rate - $0.122320, and 2024 Voter-Approval Rate - $0.422435.

 

RECOMMENDATION:

 

That City Council accept the preliminary report identifying the calculation of the 2024 no-new-revenue and voter-approval tax rates and authorize the notice publication as required by the Texas Tax Code Section 26.061.