STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: September 9, 2020
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Budget
EXECUTIVE: Elizabeth Reich
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SUBJECT
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Authorize a proposal to consider adoption of a $0.7766/$100 valuation tax rate, or a lower rate as may be proposed by the City Council on September 23, 2020 - Financing: No cost consideration to the City
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BACKGROUND
The City Manager’s recommended FY 2020-21 budget includes a tax rate of $0.7766/$100. A public hearing is not required this year since the proposed tax rate is lower than both the no-new-revenue and voter-approval tax rates calculated by the Dallas County Tax Office based on certified estimates; however State law requires a Notice of Tax Rates. The Notice of Tax Rates provides information about the no-new-revenue and voter-approval tax rates. The meeting to adopt the tax rate is September 23, 2020.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
City Council was briefed on the City Manager’s Proposed Budget on August 11, 2020.
City Council held a Budget Workshop and considered amendments on September 2, 2020.
FISCAL INFORMATION
No cost consideration to the City.