03 - Ratify Property Tax Increase 2024-25 BudgetItem No. 3
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TO: Mayor, Mayor Pro -Tem, & City Council
Robert Vine, Interim City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: RATIFYING THE PROPERTY TAX INCREASE IN THE 2024-25 BUDGET
DATE: September 10, 2024
BACKGROUND: Under Local Government Code Section 102.007 (c), the City Council is
required to take a separate vote to ratify any property tax increase reflected in the 2024-25 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: City staff has placed this matter on the agenda, as it must be approved prior
to voting on the tax rate. The 2024-25 Budget will raise $636,414 more in property tax revenue
than last year. $159,347 of this amount comes from property taxes on new property that was not
on the tax roll last year.
BUDGET: N/A
RECOMMENDATION: Motion to ratify the property tax increase reflected in the 2024-25
Budget.