STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: September 22, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Budget and Management Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
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A public hearing to receive comments on a $0.7733 per $100 valuation property tax rate for the 2021-22 fiscal year as discussed on August 25, 2021; City Council will vote to adopt a tax rate on Wednesday, September 22, 2021 at Dallas City Hall, City Council Chambers - Financing: No cost consideration to the City
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BACKGROUND
The City Manager’s recommended budget for FY 2021-22 set the property tax rate at $0.7733 per $100 assessed valuation, a $0.0030 decrease from the FY 2020-21 property tax rate of $0.7763 per $100 assessed valuation.
To set a property tax rate above the FY 2021-22 calculated no-new-revenue tax rate of $0.707976 per $100 valuation, State law requires public notice and a public hearing on the tax rate. On August 25, 2021, the City Council authorized a public hearing to be held on Wednesday, September 22, 2021 to receive comments on a proposed tax rate of $0.7733 per $100 valuation; and a proposal to consider adoption of a $0.7733 per $100 valuation tax rate or a lower rate as may be proposed by the City Council on September 22, 2021.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
City Council was briefed on the City Manager’s Proposed FY 2021-22 Budget which included a proposed tax rate of $0.7733 per $100 assessed valuation on August 10, 2021.
City Council authorized a proposed tax rate of $0.7733 per $100 assessed valuation on August 25, 2021.
City Council authorized a public hearing on August 25, 2021; to be held on September 22, 2021.
City Council discussed budget amendments on September 1, 2021 and September 9, 2021.
City Council is scheduled to hold a public hearing on September 22, 2021.
FISCAL INFORMATION
No cost consideration to the City.