04 - Ratify the property tax increase reflected in the budget as required by Local Government CodeItem No. 4
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
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 2018-19
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 $367,280. Of this increase, $56,035 is due to new property added to the tax roll for
the first time and $311,245 is due to growth in the taxable value of property already on the tax
roll.
RECOMMENDATION: Motion to ratify the property tax increase reflected in the 2018-19
Budget.