04 - RATIFYING THE PROPERTY TAX INCREASE IN THE 2017-18 BUDGETItem No. 4
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: RATIFYING THE PROPERTY TAX INCREASE IN THE 2017-18 BUDGET
DATE: September 12, 2017
BACKGROUND: Under Local Government Code Section 102.007 (c), the City Council is
required to take a separate vote to ratify the property tax increase reflected in the 2017-18
Budget. This vote is in addition to the vote required to adopt the budget and the vote to adopt the
tax rate.
STATUS OF ISSUE: This matter is waiting for City Council approval. Total property taxes are
increasing by $1,044,376. The bulk of this increase will go to make the debt payments on the
2017 GO Bond issue for street improvements. Taxes will also increase to reflect new property on
the tax roll and growth in the taxable value of existing property.
BUDGET: N/A
RECOMMENDATION: Motion to ratify the property tax increase reflected in the 2017-18
Budget.