SUBJECT:
Consideration and Action regarding proposed FY2021/2022 Tax Rate and Notice of Public Hearing
BACKGROUND/DISCUSSION:
To comply with the Truth-in-Taxation requirements, The City Council must take a record vote on the proposed tax rate. The rate and record vote will be published in the newspaper and on the city website. A draft notice is attached.
FINANCIAL IMPACT:
This item will have a financial impact, as tax revenue is a primary funding source of the budget, but the purpose of tonight's action is to satisfy State law and Truth-in-Taxation procedures.
RECOMMENDATION:
Staff recommends the City Council vote on the proposed tax rate in preparation of the public hearing on the FY2021/2022 tax rate that will be held at the City Council meeting on August 16, 2021. |