PILLAR: Fiscally Sound
AGENDA DATE: September 16, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Budget and Management Services
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
A resolution ratifying the increase in total property tax revenues reflected in the FY 2026-27 budget - Estimated Revenue: General Fund ($55,465,806) and Debt Service Fund ($20,798,311) (100 percent collection rate)
Body
BACKGROUND
The Local Government Code Section 102.007 requires the governing body to ratify the property tax revenue increase reflected in the budget. The FY 2026-27 General Fund and Debt Service Fund budget reflects a $76,264,117 increase in current year property tax revenue based on tax rate of $0.6978 per $100 assessed valuation with 100% collection. Of that amount, $27,383,750 in tax revenue will be generated from new property added to the tax roll this year. Of the $76,264,117, the General Fund increase is $55,465,806 and the Debt Service Fund increase is $20,798,311.This action reflects a comparison of the 2025 certified value to the 2026 certified value.
The actual amount of property tax revenues forecast and budgeted (FY 2026-27 based on 2026 certified value) are reflected in the table below.
Ad Valorem Tax*
FY 2025-26 Adopted
FY 2025-26 Forecast
FY 2026-27 Budget
Current Year
$1,546,553,268
$1,543,466,345
$1,615,446,474
Prior Year
($ 5,273,081)
($ 7,647,008)
($ 7,865,532)
Special Inventory Tax
$ 625,009
$ 411,043
$ 418,466
Penalty & Interest
$ 10,089,626
$ 11,361,327
$ 10,358,132
Refunds
$ 42,236
$ 0
$ 0
Total
$1,552,037,058
$1,547,591,627
$1,618,357,540
*Amounts above reflect total with collection rates of 97.39%.
This year’s property tax levy will raise more revenue from property taxes than in the preceding year. The City must hold a separate vote to ratif...
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