HomeMy WebLinkAbout2016.08.08 City Council Meeting Minutes292
City of University Park City Hall
3800 University Blvd.
University Park,TX 75205
Meeting Minutes
City Council
Monday,August 8,2016 12:00 PM Council Overflow Room
I.CALL TO ORDER
Present:3 -Councilmember Taylor Armstrong,Councilmember Randy Biddle and
Councilmember Gage Prichard
Excused:2 -Mayor Olin Lane and Mayor Pro Tem Dawn Moore
II.MAIN AGENDA
16-136 Consider and Act:Resolution Adopting a Maximum Proposed Tax
Rate and Setting the date for Adoption of the Final Tax Rate for Fiscal
Year 2017
Director of Finance Tom Tvardzik gave a presentation.He said that state
law requires that all taxing units comply with "truth-in-taxation",requiring the
calculation and publication of the Effective Tax Rate,the "Rollback"Tax Rate
and the current year Proposed Tax Rate.The Effective Tax Rate is the rate
needed to provide the City with the same amount of revenue it received the
prior year,based on properties taxed in both years.The Rollback Rate is the
Effective Rate plus 8%.It is called the "Rollback"rate because if a taxing
unit exceeds it,voters in the jurisdiction can petition for an election to "roll
back"the higher rate.
The city's tax collector,the Dallas County Tax Office,calculates the Effective
Rate and the Rollback Rate for the City.The applicable tax rates for the
2016 tax year (FY2017)are as follows:
2016 ETR =24.0447 cents per $100 of taxable value
2016 RTR =25.9682 cents per $100 of taxable value
In order to maintain fiscal flexibility throughout the budget process,Council
has traditionally adopted the prior year tax rate as a proposed maximum tax
rate in the current year.This rate is as follows:
2015 Property Tax Rate =25.893 cents per $100 of taxable value.
2016 Proposed Property Tax Rate =25.893 cents per $100.
As the Proposed Tax Rate for 2016 will exceed the 2016 ETR,Council must
adopt the rate by roll call vote and provide the public with notice and
opportunity to be heard.This can be accomplished by holding two public
hearings regarding the proposed rate.
Tom made the following recommendations:
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City Council Meeting Minutes August8,2016
1.Approve the resolution adopting the maximum proposed property tax
rate the Council will consider for FY2017 of 25.893 cents per $100 of
taxable value and setting the date that the Council will adopt the final
FY2017 property tax rate;and,
2.Schedule two tax rate public hearing as follows:
a.Tax Rate Public Hearing 1 -during the regularly scheduled
City Council meeting of August 16,2016,and
b.Tax Rate Public Hearing 2 -during the regularly scheduled
City Council meeting of September 6,2016.
A motion was made by Councilmember Randy Biddle,seconded by
Council member Gage Prichard,to approve this resolution and schedule tax
rate hearings on August 16 and September 6.The motion carried by the
following vote:
Aye:3 -Councilmember Armstrong,Councilmember Biddle,and Council member
Prichard
Excused:2 -Mayor Lane,and Mayor Pro Tem Moore
Enactment No:RES No.16-009
III.PUBLIC COMMENTS
None
IV.ADJOURNMENT
As there was no further business,the meeting was adjourned.
Considered and approved this the 16th day of August,2016:
ATTEST:
~~
Christine Green,City Secretary
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