05 - RATIFYING THE PROPERTY TAX INCREASE IN THE 2015-16 BUDGETItem No. 5
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: RATIFYING THE PROPERTY TAX INCREASE IN THE 2015 -16 BUDGET
DATE: September 16, 2015
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 2015 -16
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 $70,485. $57,166 of the increase is due to new property added to the tax roll for
the first time and $13,319 of the increase is due to increased value of property already on the roll.
BUDGET: N/A
RECOMMENDATION: Motion to ratify the property tax increase reflected in the 2015 -16
Budget.