SUBJECT:
Consideration and Action regarding proposed FY2020/2021 tax rate and notice of public hearing.
BACKGROUND/DISCUSSION:
To comply with the Truth-in-Taxation guidelines, the City Council must take 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 operating budget, but the purpose of tonight's action is to satisfy State Law and the Truth-in-Taxation procedures.
RECOMMENDATION:
Staff recommends the City Council vote on the proposed tax rate in preparation of the public hearing on the FY2020/2021 tax rate and budget that will be held at the City Council meeting on September 15,2020. |