PRESENTER: Presenter
Jared Werner, Assistant City Manager
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SUBJECT: Title
Discuss and consider approval of a reconsideration of the second and final reading of an ordinance adopting the 2023 ad valorem tax rates.
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DEPARTMENT: Finance
BACKGROUND INFORMATION:
A review of the FY 2024 Proposed Budget Landing page of the City’s website revealed an error on the Notice of Public Hearing on Tax Increase. This notice is prepared by the Comal County Tax Office and provides information regarding the increase/decrease in tax rate, taxes on the average homestead, etc. It also provides dates and times of the Tax Rate Hearing. There was a typographical error by the Comal County Tax Office in this notice that was published, and as a result, the date information was published incorrectly. While staff did review the detailed content of this notice, the typographical error with the date was missed. Staff has already implemented processes to mitigate the chances of this occurring in the future.
In the spirit of transparency, the City would like to present the citizens a second opportunity to speak to the tax rate at an additional public hearing to be held September 25, 2023 at 6:00 pm. Following that hearing, and the consideration and approval of the resolution ratifying the increase in revenue generated by the 2023 property tax included in the FY 2024 Annual Budget, the second and final reading of the ordinance to adopt the 2023 ad valorem tax rates can be considered by Council again.
FISCAL IMPACT:
The ad valorem tax revenues provide funding for the FY 2024 Budget in the General Fund and Debt Service Fund.
Recommendation
RECOMMENDATION:
Staff recommends approval of a reconsideration of the second and final reading of the tax ordinance for the 2023 ad valorem tax rates.