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G-94-09-22-9B - 9/22/1994ORDINANCE NO. G - - 0 9 - as - 96 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 1994. 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 1994 upon all property, real, personal and mixed, within the corporate limits of said City subject to taxation, a tax of 21.077 cents on each One Hundred 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 1994 upon all property, real, personal and mixed, within the corporate limits of said City subject to taxation, a tax of 27.819 cents on each One Hundred Dollars ($100.00) valuation of property. SUMMARY Maintenance and operation of the Municipal Government 21.077 cents Interest and Sinking 27.819 cents Total Tax per $100.00 of valuation 48.896 cents II. All monies collected under this ordinance for the specific items herein named, be and the same are hereby appropriated and set KS\ORDINANCES OR40908B 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. READ and APPROVED on first reading this the 8th day of September, 1994. READ, APPROVED and ADOPTED on second reading this the 22nd day of September, 1994. ROBERT A. -s -uKA ATTEST: E LAND, City Secretary 2. , Mayor PR© -T Erfl City of Round Rock, Texas DATE: September 20, 1994 SUBJECT: City Council Meeting, September 22, 1994 ITEM: 9. B. Consider an ordinance adopting the 1994 property tax rate. (Second Reading) STAFF RESOURCE PERSON: David Kautz STAFF RECOMMENDATION: The proposed operating budget for Fiscal Year 1994-95 requires a property tax rate as follows: Maintenance & Operations 21.077 Cents per $100 valuation Debt Service 27.819 Cents per $100 valuation Total Tax Rate 48.896 Cents per $100 valuation The proposed tax rate is below the "Effective Tax Rate," the rate that yields the same amount of revenue from properties on the tax roll this year that were on the roll last year. The proposed tax rate is based on a certified tax roll value of $1,380,377,000. Last year the tax rate was 56.924 Cents based on a tax roll of $1,074,056,000.