Item Coversheet
Meeting Date:
8/16/2021
Staff Contact:

Gabe Reaume

City Manager

Kim Quin

Finance Director 


 
Agenda Items:

(8)
E-mail:
greaume@saginawtx.org
  Phone:817-230-0324
SUBJECT:
Consideration and Action regarding Ordinance No. 2021-17, Adopting and Setting the Property Tax Rate for the 2021 Tax Year

BACKGROUND/DISCUSSION:
Ordinance No. 2021-17 sets the tax rate at 47.9516 cents (I&S at 19.4458 and M&O at 28.5058).  This rate is reflected in the Fiscal Year 2021/2022 Proposed Budget.  The required public hearing has been held and the notices have been published.

FINANCIAL IMPACT:
The collection of property taxes at the adopted rate is a primary funding source for the General Fund and Debt Service Fund budgets.

RECOMMENDATION:

Staff recommends adopting a property tax rate of 47.9516 cents to fund the Fiscal Year 2021/2022 Budget.

 

THE MOTION MUST BE STATED AS:

 

I MOVE THAT THE PROPERTY TAX RATE BE INCREASED BY THE ADOPTION OF A TAX RATE OF 0.479516, WHICH IS EFFECTIVELY A 7.28 PERCENT INCREASE IN THE TAX RATE.

 

ATTACHMENTS:
Description
Tax Rate Ordinance