O-87-2299 - 9/24/1987ORDINANCE NO. 2299
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 1987.
WHEREAS, the residents of the City of Round Rock, Texas,
at a duly called election voted to impose an additional one-half
cent sales tax for the purpose of reducing property tax; and
WHEREAS, the City will begin collecting said tax in 1988;
and
WHEREAS, the projected revenue from that
taken into consideration in the setting of
hereinbelow which has had the effect of reducing
by a,19 cents on each One Hundred Dollar
property; and
WHEREAS, the cent tax rate is ,/9 cents
or .4/445% above the 1986-87 rate; and
.6th,cae
WHEREAS, without the additional one-half cent sales tax
consideration the rate for 1987-88 would have had to be
cents or a Jr.V% increase over 1986-87 rates, NOW THEREFORE
tax has been
the tax rate
the tax rate
valuation of
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS
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 Nineteen Hundred and
Eighty -Seven upon all property, real, personal and mixed, within
the corporate limits of said City subject to taxation, a tax
of /9,9fpi 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 Nineteen Hundred and Eighty -Seven
upon all property, real, personal and mixed, within the
corporate limits of said City subject to taxation, a tax
of A 3, oleo cents on each One Hundred Dollars ($100.00)
valuation of property
SUMMARY
Municipal Government
Interest and Sinking
TOTAL
11.
GO,
There is hereby levied and there shall be collected from
every person, firm, association, or corporation pursuing any
occupation taxed by the General laws of the State of Texas, an
annual occupation tax equal in each instance to one-half of the
State occupation tax, which said taxes shall be paid annually in
advance except where otherwise provided by the State laws, in
which event the same may be paid as in provided by the State
law.
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.
READ and APPROVED on first reading this the 10th day of
September, 1987.
READ, APPROVED and ADOPTED on second reading this the
24th day of September, 1987.
MIKE ROBINSON, Mayor
City of Round Rock, Texas
ATTEST:
NE LAND, City Secretary
atnit-ba4a/nd
DLW/mr
DK(Ordinances)
Taxlevy
Rev. 9/8/87
DATE: September 22, 1987
SUBJECT: Council Agenda, September 24, 1987
ITEM: 11B - Consider an ordinance establishing the 1987 tax
rate.
STAFF RESOURCE PERSON: Bob Bennett, Sam Huey
STAFF RECOMMENDATION: Propose to adopt a tax rate of 42.5.
ECONOMIC IMPACT: This tax rate of 42.5 is .19c less than the
current rate. This proposed rate is accomplished
by:
1. Analizing percent of collections of
of taxes and adjusting from 92% to
94.5% which is the current projected
percent of collections.
2. Using $350,000 of 1986-87 estimated
fund balance growth.
3. Using 50% of the optional 1/2c sales
tax windfall in the amount of $290,625.