Presenter/Contact
Presenter
Robert Camareno, City Manager
Contact Info
(830) 221-4280 - rcamareno@nbtexas.org
Subject Header
SUBJECT:
Title
Second public hearing on the proposed tax rate for the City of New Braunfels for the 2018 tax year and announce the meeting date and time of adoption.
Body
BACKGROUND / RATIONALE:
City Council held work sessions on the FY 2018-19 Budget and 2018 tax rates on August 13, 14, 15, and 20, 2018. The first public hearing on the proposed rate was held on August 23, 2018. The 2018 tax rate is scheduled to be adopted on September 10, 2018.
There is no proposed tax rate increase for FY 2018-19. Therefore, the total proposed tax rate for tax year 2018 is $.48822, equal to the 2017 rate. The debt service component of that rate is $.20985 and the General Fund rate is $.27837.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
City Plan/ Council Priority |
Strategic Priorities: Maintain fiscal stability of City operations. |
FISCAL IMPACT:
The proposed ad valorem tax revenues generated by the proposed tax rate provide funding for the FY 2018-19 Budget in the General Fund and the Debt Service Fund.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
No action is required.