14 Calling Public Hearings on Tax Rate
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RESOLUTION NO.
f:attorneylresworklcurrentlTax Rate Hearing Res 2007
August 16,2007
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
TEXAS, CALLING TWO PUBLIC HEARINGS TO RECEIVE PUBLIC
COMMENT ON THE CITY'S PROPOSAL TO INCREASE TOTAL TAX
REVENUES BY $395,705 OR 4.94 % FROM THE PRECEDING TAX YEAR;
MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE
SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Manager of the City of Paris presented to the City Council at a special
meeting convened on the August 20, 2007, the City Manager's proposed budget for Fiscal Year
2007 - 2008 which would require a tax rate of .59225 to fund a balanced budget as required by Section
59 of the Charter of the City of Paris; and,
WHEREAS, in accordance with Section 26.06 of the Property Tax Code of the State of
Texas, two public hearings must be held at which the City Council must afford adequate opportunity
for proponents and opponents of the proposed tax increase to present their views; and,
WHEREAS, an appropriate date, time and place for said public hearings is found to be the
5th day of September, 2007, at 6:00 p.m. and the second public hearing to be the 10th day of
September, 2007, at 6:00 p.m., in the City Council Chamber, 107 E. Kaufman Street, Paris, Texas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PARIS, TEXAS:
Section 1. That the findings set out in the preamble to this resolution are hereby in all things
approved.
Section 2. That a public hearing be, and the same is hereby, called for September 5, 2007,
at 6:00 p.m. and September 10,2007, at 6:00 p.m., in the City Council Chamber, 107 E. Kaufman
Street, Paris, Texas, for the purpose of hearing the views of proponents and opponents to the City's
proposal to increase total tax revenues by $395,705 or 4.94% from the preceding tax year.
Section 3. That the City Clerk of the City of Paris shall publish notice of said public hearings
substantially in accordance with the notice of Public Hearing on Tax Increase attached hereto and
incorporated herein as Exhibit "A", in the Paris News on or before the 29th day of August, 2007,
setting forth the date, time and place of said public hearings. V emon' s Texas Codes Annotated, Tax
Code, Section 26.06.
Section 4. That this resolution shall be effective from and after its date of passage.
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1~~ IRe'. :)5-06 11):
Notice of Public Hearing on Tax Increase
The Citv of Paris, Texas will hold a public heanllg on a proposal to Increase total tax
I'evenues from properties on the tax rollm the preceding tax yeal' by 5.72 percent (percentage by which proposed
tax rate exceeds lower of rollback tax rate or effective tax calculated under Chapter 26, Tax Code). Your individual
taxes may Increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your
property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The public hearing will be held on September 5 &10, 200l- at
6:00 PM in Citv Council Chambers
The members of the governing body voted on the proposal to consider the tax increase as follows:
FOR:
AGAINST:
PRESENT and not voting:
ABSENT:
Comparison of Proposed Budget with Last Year's Budget
The applicable percentage increase or decrease (or difference) in the amount budgeted in the preceding fiscal year and
the amount budgeted for the fiscal year that begins during the current tax year is indicated for each of the following
expenditure categories:
Maintenance and operations
Debt service
Total expenditures
6.08
0.12
5.02
% (increase)
% (increase)
% (increase)
or
% (decrease)
% (decrease)
% (decrease)
or
or
Total Appraised Value and Total Taxable Value
as calculated under section 26.04, Tax Code
Total appraised value* of all property
Total appraised value* of new property"
Total taxable value*" of all property
Total taxable value*'* of new property"
Preceding Tax Year
$ 1,752,914,192
$ 291,137,084.00
$ 1,352,292,368.
$ 285,436,186.00
Current Tax Year
$1,837,561,487.
$ 44,365,242,00
$ 1,419,106,196.
$ 31,225,400.00
Bonded Indebtedness
Total amount of outstanding and unpaid bonded indebtedness
$
36,030,000.00
Tax Rates
Adopted tax rate for the preceding tax yeal'
Proposed tax I'ate for the cun'ent tax year
Difference In the proposed tax rate and the
adopted tax rate for the preceding tax year
$
S;
.59225 pel' $100 in value
.59225 pel' $100 in value
s
o per$100lnvalue
Percentage Increase 01' decrease In the
proposed tax rate and the adopted tax
rate for the preceding tax year
o % Incl'ease
OR
o % Decrease
These tax rate figures are not adjusted for changes in the taxable value of property.
"Appraised value' IS the amount shown Oil the appraisal roll and defined by Section 1.04(8), Tax Code.
"New property" is defined by Section 26012(17j, Tax Code.
"Taxable value" IS defllled by Section 1.04(10). Tax Code.
EXHIBIT A
Form 50.197 (Rev. 05.06;; 0,1 (Back)
Comparison of Residence Homestead Values
Average appraised and taxable values on residence homesteads are compared from the preceding tax year al1d the
current tax year
Average residence homestead appraised value
Precedlllg Tax Year
$ 58,927.00
Current Tax Year
$ 60,621.00
Homestead exemption amount for tile taxing unit
(excluding special exemptions for persons 65 years
of age or older or disabled)
$
80.00
$
84.00
Average taxable value of a residence homestead
(excluding special exemptions for persons 65 years
of age or older or disabled)
$
58,847.00
$
60,537.00
Comparison of Residence Homestead Taxes
Thetaxes that would have been imposed in the preceding tax year on a residence homestead atthe average appraised value
(excluding special exemptions for persons 65 years of age orolderordisabled) are estimated to be $ 348.52
The taxes that would be imposed in the current tax year on a residence homestead appraised at the average appraised
value in the curre!lt tax year (excluding special exemptions for persons 65 years of age or older or disabled), if the pro-
posed tax rate is adopted, are estimated to be $ 358.53 . The difference between the amount of taxes
on the average residence homestead in the current tax year, if the proposed tax rate is adopted. and the preceding tax
year would be an increase of $ 10.01