BACKGROUND/DISCUSSION:
This is the first of two required public hearings to be held for public input on the proposed 2019 tax rate. This item is for public input only. Other than holding the public hearing, no action will be taken.
FINANCIAL IMPACT:
This public hearing is necessary to adopt the proposed tax rate of 45.9 cents, which is a primary funding source of the fiscal year 2019-2020 budget.
RECOMMENDATION:
After the public hearing is closed, the Mayor must announce that the 2nd public hearing on the proposed tax rate increase will be held on September 10, 2019 at 6:00 p.m. at the Saginaw City Hall and that the adoption of the proposed tax rate increase will be considered at the City Council Meeting on September 17, 2019 at 6:00 p.m. at the Saginaw City Hall.
NOTE: THESE ANNOUNCMENTS ARE VERY IMPORTANT AND MUST BE MADE TO SATISFY THE TRUTH IN TAXATION LAW REQUIREMENTS.