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HomeMy WebLinkAboutR2004-039S:\Our Documents~q. esolutions~04\tax public hearing.doc A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS PLACING A PROPOSAL ON THE SEPTEMBER 7, 2004 CITY COUNCIL PUBLIC MEETING AGENDA TO ADOPT A 2004 TAX RATE THAT WILL EXCEED THE LOWER OF THE ROLLBACK RATE OR 103 PERCENT OF THE EFFECTIVE TAX RATE; CALLING A PUBLIC HEARING ON A TAX INCREASE TO BE HELD ON AUGUST 24, 2004; REQUIRING PUBLICATION OF A NOTICE OF PUBLIC HEARING ON A TAX INCREASE IN ACCORDANCE WITH THE LAW; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council desires to consider adopting a tax rate of $0.57765 per 100 valuation, which will exceed the lower of the rollback rate or 103 percent of the effective tax rate, in accordance with the requirements of the Tex. Tax Code ch. 26 and to schedule a public hearing on the proposed tax increase; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES SECTION 1. The City Council desires to consider adopting a tax rate for the 2004 tax year of $0.57765 per $100 per valuation that will exceed the lower of the rollback rate or 103 percent of the effective tax rate. SECTION 2. The City Council hereby approves the placement of an item on the September 7, 2004 City Council public meeting agenda to vote on a proposed tax rate of 0.57765 per $100 valuation that will exceed the lower of the rollback rate or 103 percent of the effective tax rate. SECTION 3. The City Council hereby calls a public hearing on the proposed tax increase to be held in the City Council Chambers at City Hall located at 215 East McKinney Street in Denton, Texas 76201 on August 24, 2004 at 6:30 p.m. The public hearing will not be held until at least seven days after notice of this public hearing has been published in the Denton Record- Chronicle, a newspaper having general circulation within the City, in the form of the attached Notice of Public Hearing on a Tax Increase, which is made a part of this resolution for all purposes. The City Manager and the Assistant City Manager are hereby directed to publish said notice in accordance with this resolution and in accordance with Tex. Tax Code §26.06. At the public heating, the City Council will afford adequate opportunity for both proponents and opponents of the tax increase to present their views. SECTION 4. This resolution shall become effective immediately upon its passage and approval at a regular meeting of the City Council of the City of Denton, Texas on this the l0th day of August, 2004, at which meeting a quorum was present and the meeting was held in accordance with the provisions of Tex. Gov't Code §551.001, et seq. The City Secretary is hereby directed to record this resolution and the vote on the proposal to place the item for a tax increase on the September 7, 2004 City Council agenda. S:\Our DocumentshResolutions\04\tax public hearing.doc PASSED ANDAPPROVEDthisthe /~/~ dayof ~ ,2004. EULINE BROCK, MAYOR ATTEST: JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO LEGAL FORM: HERBERT L. PROUTY, CITY ATTORNEY BY: Councilmember Euline Brock, Mayor Pete Kamp Perry McNeill, Mayor Pro Tem Bob Montgomery Joe Mulroy Jack Thomson Raymond Redmon Voted For Voted Against Page 2 Notice of Public Hearing on Tax Increase The City of Denton, Texas will hold a public hearing on a proposal to increase total' tax revenues from properties on the tax roll in the preceding year by 6.8 percent. Your individual taxes may increase at a greater or lesser rate, or even decrease, depend'rog on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted. The public hearing will be held on August 24, 2004, at 6:30 p.m. at the City Council Chambers in City Hall located at 215 E. McKinney Denton, Texas 76201. FOR the proposal: AGAINST the proposal: PRESENT and not voting: ABSENT: The following table compares taxes on an average home in this taxing unit last year to taxes proposed on the average home this year. Again, your individual taxes may be higher or lower, depending on the taxable value of your property. Average residence homestead value Last Year This Year 117,730 $120,498 General exemptions available mount available on the average homestead, not including senior citizen's or disabled person's exemptions)5,00O $5,0OO Average taxable value 112,730 $115,498 Tax Rate .54815/$100 .57765/$100 Tax $617.92 $667.17 Under this proposal, taxes on the average homestead would increase by $49.25 or 7.9 percent compared with last year's taxes. Comparing tax rates without adjusting for changes in property value, the tax rate would increase by $2.95g per $100 of taxable value or 5.3 percent compared to last year's tax rate. These tax rate figures are not adjusted for changes in the taxable value of property.