G-06-09-28-13A2 - 9/28/2006ADOPTS RATE MORE THAN
0-90-0q-Z"
EFFECTIVE RATE
ORDINANCE NO.
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 2006.
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 2006 upon all property,
real, personal and mixed, within the corporate limits of said City
subject to taxation, a tax of 21.635 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 $7.45.
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 2006 upon all property, real, personal and
mixed, within the corporate limits of said City subject to
taxation, a tax of 15.470 cents on each One Hundred Dollars
($100.00) valuation of property.
@PFDesktopA::ODMA/WORLDOX/O:/wdox/ORDINANC/00104€04.WPD/rrec
SUMMARY
Maintenance and operation
of the Municipal Government
Interest and Sinking
Total Tax per $100.00 of valuation
21.635 cents
15.470 cents
37.105 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 /44k/day of
aepitirtka) , 2006.
READ, APPROVED and ADOPTED on second reading this the o2,5
day of 'UMW , 2006.
2.
ATTEST:
1 A 1_ Ai ALA_A
„ft.. INE4 . MARTINEZ, City Secretary
3.
May
of Ro+nd Rock, Texas
DATE: September 21, 2006
SUBJECT: City Council Meeting - September 28, 2006
ITEM: 13.A.2. Consider an ordinance adopting the 2006 property tax rate for
the City of Round Rock. (Second Reading)
Department: Finance
Staff Person: Cindy Demers, Finance Director
Justification:
Chapter 26 of the Property Tax Code requires taxing units to comply with truth -in -taxation
laws when adopting their tax rates. When a proposed tax rate exceeds the lower of the roll
back rate or effective tax rate, the taxing unit's governing body must hold two public
hearings before adopting a tax rate. 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 37.105 CENTS."
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: N/A
Background Information:
2006 (FY 2006-2007) Proposed Tax Rate - $0.37105
2006 (FY 2006-2007) Effective Tax Rate - $0.35618
2005 (FY 2005-2006) Tax Rate - $0.37105
The proposed tax rate of $0.37105 is required to balance the FY 2006-2007 Operating
Budget. This rate is same tax rate adopted in 2005 (FY 2005-2006), and is $0.01487 above
the 2006 (FY 2006-2007) effective tax rate. The proposed increase is due to the growth in
operating costs and reduced sales tax reliance reflecting the City's operational and long-
term financial plans. Under this proposal, taxes on the average homestead would increase
by $26.02 or 4.54% compared with last year's taxes.
Comparing the proposed tax rate to the effective rate, the tax rate would increase by
4.17%. 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 7, 2006 and September 14, 2006.