O-89-2426 - 9/28/1989ORDINANCE NO. t1 `t' 9W
AN ORDINANCE LEVYING TAXES FOR THE USE AND SUPPORT
OF THE MUNICIPAL GOVERNMENT OF THE CITY OF ROUND
ROCK, TEXAS, AND PROVIDING FOR THE INTEREST AND
SINKING FUND FOR THE YEAR 1989.
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
use and support of the municipal government of the City of Round
Rock, Texas, for the year 1989 upon all property, real, personal and
mixed, within the corporate limits of said City subject to taxation,
a tax of 18.744 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 1989 upon all property, real, personal and mixed, within
the corporate limits of said City subject to taxation, a tax of
29.621 cents on each One Hundred Dollars ($100.00) valuation of
property.
SUMMARY
Municipal Government
Interest and Sinking
18.744
29.621
TOTAL 48.365
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.
C-OR09149D
� v
READ and APPROVED on first heading this the )L.1 day of
September, 1989.
READ, APPROVED and ADOPTED on second reading this the
of September, 1989.
ATTEST:
4110,,t/r0//,
JOS E LAND, City Secretary
MIKE ROBINSON, Mayor
City of Round Rock, Texas
2.
Notice of Effective Tax Rate
1989 Property Tax Rates in CITY OF ROUND ROCK
This notice concerns 1989 property tax rates for CITY OF ROUND ROCK It presents information about
three tax rates. Last year's tax rate is the actual rate the taxing unit used to determine property taxes last year. This
year's effective tax rate would impose the same total taxes as last year if you compare properties taxed in both years.
This year's rollback tax rate is the highest tax rate the taxing unit can set before taxpayers can start tax rollback
procedures. In each case these rates are found by dividing the total amount of taxes by the tax base (the total value of
taxable property) with adjustments as required by state law. The rates are given per $100 of property value.
Last year's tax rate:
Last year's operating taxes $ 1,807,705
+ Last year's debt taxes $ 3,103,266
= Last year's total taxes $ 4,910,971
Last year's tax base $ 1,169 , 278, 722
= Last year's total tax rate $ 0.42 /$100
This year's effective tax rate:
Last year's adjusted taxes $ 4,909,959
(after subtracting taxes on lost property)
- This year's adjusted tax base
(after subtracting taxes on new property)
This year's effective tax rate
$ 1,015,183,346
$ 0.48365/$100
A city that adopted the additional sales tax in a 1989 election must include the following lines:
- Sales tax adjustment rate
= Effective tax rate
0.08096/$100
0.48365/$100
x 1.03 = maximum rate unless unit publishes
notices and holds hearing
This year's rollback tax rate:
Last year's adjusted operating taxes
(after subtracting taxes on lost property)
This year's adjusted tax base
This year's effective operating rate
x 1.08 = this year's maximum operating rate
+ This year's debt rate
This year's rollback rate
0.49815/$100
2,646,409
1,015,183,346
0.26068/$100
0.28153/$100
0.29621/$100
0.57774/$100
A city that imposes the additional sales tax must include these lines, regardless of when it held the election:
- Sales tax adjustment rate
= Rollback tax rate
0.08096/$100
0.49678/$100
DATE: September 25, 1989
SUBJECT: Council Agenda, September 28, 1989
ITEM: 12B. Consider an ordinance setting the 1989 tax rate.
(Second Reading)
STAFF RESOURCE PERSON:
David Kautz
STAFF RECOMMENDATION: Adopt the Effective Tax Rate of
$0.48365/$100 assessed valuation
A summary of the rate calculation
is attached.
ECONOMIC IMPACT:
The Effective Rate is based upon an assessed property valuation
of $1,036,296,163 and is equal to the prior year's tax levy
divided by the current value of properties that were also on
the roll last year.
The tax rate is adopted in two parts as summarized below:
1989 Maintenance.& Operations Rate $0.18744
1989 Debt Tax Rate $0.2.9621
1989 Effective Tax Rate $0.48365
The Effective Tax Rate reflects a Sales Tax Adjustment of $0.08