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Submittal Date: <br />8-9-12 <br />Council Date: <br />9-24-12 <br />CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Originating Department: Presented By: <br />Finance Gene Anderson <br />Agenda Item No.: <br />15. <br />RECOMMENDED MOTION: <br />Motion to approve an ordinance fixing the tax rate, tax levy, and levying the ad valorem <br />taxes for the City of Paris for fiscal year 2012-13. <br />POLICY ISSUE�S�: <br />Fiscal Management <br />BACKGROUND: <br />This ordinance sets the City of Paris tax rate at .51107 per $100 of property value. The <br />tax rate is broken down between operations/maintenance costs (.41487 cents per $100 of <br />value) and debt costs (.09620 cents per $100 of value). It establishes the tax levy based <br />on the .51107 cent rate, and directs that the levy be entered into the City's records. <br />At this tax rate, the average residential homestead ($70,162) will pay $358.58 in property <br />taxes to the City. <br />The City tax rate has not been lower than the proposed rate since 1993. <br />BOARD�COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Ordinance <br />ACTION: <br />❑ Financial Report ❑ Minute Order <br />❑ Department Report ❑ Resolution <br />❑ Presentation � Ordinance <br />❑ Public Hearing ❑ Other <br />FISCAL NOTES: <br />BUDGET INFO: <br />Expense <br />Budgeted Amt. <br />YTD Actual <br />Acct. Name <br />Acct. Number <br />$ <br />$ <br />$ <br />City of Paris n i Revised 6/20/12 <br />�71 <br />