G-04-09-23-12A2 - 9/23/2004ORDINANCE NO. 9-04-09-c:Q3-MAZ)
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 2004.
BE IT ORDAINED BY THE 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 2004
real, personal and mixed, within the corporate
subject to taxation, a tax of 20.922 cents
Dollars ($100.00) valuation of property.
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 2004 upon all property, real, personal and
mixed, within the
upon all property,
limits of said City
on each One Hundred
corporate limits
of
said City subject to
taxation, a tax of 17.050 cents on each One Hundred Dollars
($100.00) valuation of property.
SUMMARY
Maintenance and operation
of the Municipal Government
Interest and Sinking
Total Tax per $100.00 of valuation
II.
All monies collected under this ordinance for the specific
items herein named, be and the same are hereby appropriated and set
20.922 cents
17.050 cents
37.972 cents
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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 ' da of
J)LLj,
Y,03,gplin)
2 0 0 4.
READ, APPROVED and ADOPTED on second reading this the a...)2
day of
S T :,
, 2004.
W LL ayor
City of Round Rock, Texas
CHRISTINE R. MARTINEZ, City Secret _1 y
2.
DATE: September 17, 2004
SUBJECT: City Council Meeting - September 23, 2004
ITEM: 12.A.2. Consider an ordinance adopting the 2004 property tax rate for
City of Round Rock. (Second Reading) the
Department• Finance
Staff Person: David Kautz, Assistant City Manager/Chief Financial Officer
Cindy Demers, Finance Director
Justification:
The proposed operating budget for FY 2004-2005 is balanced at the tax rate of 37.972
per $100 of appraised taxable value. This is a 1.1519 cents increase over the effective tants
rate of 36.453 cents. The effective tax rate would impose the same total taxes as last year
from properties on the tax roll this year that was also on the tax roll last year. x
The tax rate provides adequate funding for the proposed operating budget. It still rem
competitive rate when compared to other municipalities. gins a
Funding•
Cost: N/A
Source of funds: N/A
Outside Resources: N/A
Background Information
2004 (FY 2005) Proposed Tax Rate - $0.37972
2004 (FY 2005) Effective Tax Rate - $0.36453
2003 (FY 2004) Current Tax Rate - $0.35715
The proposed tax rate of $0.37972 is required to balance the FY2004-05 Operating Budget.
This rate is $0.02257 above the 2003 (FY 2003-2004) rate of $0.35715 and $0.01519 above
the 2004 effective tax rate. The proposed increase is required to pay new debt service as
authorized by voters. Under this proposal, taxes on the average homestead would increasee
by $37.83 or 7.03 percent compared with last year's taxes.
Comparing the proposed tax rate to the effective rate, the tax rate would increase by4.16%.
Individual taxes may increase at a greater or lesser rate, or even decrease, dependingon the
change in taxable value of the property. 16 /o.
Public Comment:
Public Hearings will be held on this date regarding the proposed tax rate.