G-08-09-25-13C2 - 9/25/2008ORDINANCE NO. 4--r3C2
AN ORDINANCE LEVYING TAXES FOR THE MAINTENANCE
AND OPERATION OF THE MUNICIPAL GOVERNMENT OF THE
CITY OF ROUND ROCK, TEXAS, AND PROVIDING FOR THE
INTEREST AND SINKING FUND FOR THE YEAR 2008.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND
ROCK, TEXAS:
I.
That there is hereby levied and there shall be collected
for the maintenance and operation of the municipal government of
the City of Round Rock, Texas, for the year 2008 upon all
property, real, personal and mixed, within the corporate limits
of said City subject to taxation, a tax of 21.716 cents on each
One Hundred Dollars ($100.00) valuation of property. THIS TAX
RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND
OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX
RATE WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100,000 HOME BY APPROXIMATELY
$21.00.
That there is hereby levied and there shall be collected
for the City of Round Rock, Texas, to provide for Interest and
Sinking Funds for the year 2008 upon all property, real,
personal and mixed, within the corporate limits of said City
subject to taxation, a tax of 14.806 cents on each One Hundred
Dollars ($100.00) valuation of property.
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SUMMARY
Maintenance and operation
of the Municipal Government 21.716 cents
Interest and Sinking 14.806 cents
Total Tax per $100.00 of valuation 36.522 cents
II.
All monies collected under this ordinance for the specific
items herein named, be and the same are hereby appropriated and
set apart for the specific purpose indicated in each item and
that the Assessor and Collector of Taxes, and the City Finance
Director shall keep these accounts so as to readily and
distinctly show the amount collected, the amounts expended and
the amount on hand at any time, belonging to such funds. All
receipts for the City not specifically apportioned by this
ordinance are hereby made payable to the General Fund of the
City.
The City Council hereby finds and declares that written
notice of the date, hour, place and subject of the meeting at
which this Ordinance was adopted was posted and that such
meeting was open to the public as required by law at all times
during which this Ordinance and the subject matter hereof were
discussed, considered and formally acted upon, all as required
by the Open Meetings Act, Chapter 551, Texas Government Code, as
amended.
READ and APPROVED on first reading this the II day of
*fr-444' L'e , 2008.
�( READ, APPROVED and ADOPTED on second reading this the
`'✓ day of , 2008.
2
ALAN MCGRAW, Mayor
City of Round Rock, Texas
SARA L. WHITE, City Secretary
DATE: September 17, 2008
SUBJECT: City Council Meeting—September 25, 2008
ITEM: 13C2. Consider an ordinance adopting the 2008 property tax rate for the City of
Round Rock. (Second Reading)
Department:
Staff Person:
Finance
Cheryl Delaney, Assistant Finance Director
Justification:
The proposed FY 2008-2009 Operating Budget is balanced at the property tax rate of 36.522
cents per $100 of appraised taxable value. This rate is the same as the property tax rate
adopted in 2007 (FY 2007-2008) and is $.01426 above the 2008 (FY 2008-2009) effective tax
rate.
This tax rate provides adequate funding for the proposed operating budget. It remains
competitive when compared to other municipalities.
State law requires that the motion to adopt the ordinance be stated as follows:
"I MOVE THAT PROPERTY TAXES BE INCREASED BY THE ADOPTION OF A TAX RATE OF 36.522
CENTS."
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: N/A
Background Information:
2008 Proposed Tax Rate (FY 2008-2009) - $0.36522
2008 Effective Tax Rate (FY 2008-2009) - $0.35096
2007 Tax Rate (FY 2007-2008) - $0.36522
The proposed tax rate of $0.36522 is required to balance the FY 2008-2009 Operating Budget.
The proposed increase will add additional programs and services to the FY 2008-2009 Operating
Budget. Under this proposal, taxes on the average homestead would increase by $33 or 5.2%
compared with last year's taxes.
Comparing the proposed tax rate to the effective rate, the tax rate would increase by 4.06%.
Individual taxes may increase at a greater or lesser rate, or even decrease, depending on the
change in taxable value of the property.
Public Comment:
Public Hearings were held on September 4, 2008 and September 11, 2008.