Presenter/Contact
Presenter
Robert Camareno, City Manager
Contact Info
(830) 221-4280 - rcamareno@nbtexas.org
Subject Header
SUBJECT:
Title
Discuss and consider approval of the second and final reading of an ordinance adopting the 2018 ad valorem tax rates.
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, and a public hearing on August 23, 2018. Public hearings were held on the 2018 tax rate on August 23, 2018, and September 4, 2018.
The proposed tax rates included in the FY 2018-19 Budget are as follows. The total proposed tax rate for tax year 2018 is $.48822, equal to the total rate for tax year 2017. 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 ad valorem tax revenues provide funding for the FY 2018-19 Budget in the General Fund and Debt Service Fund.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the second and final reading of the tax ordinance for the 2018 ad valorem tax rates.