HomeMy WebLinkAboutResolution 4663-08-2016 A Resolution
NO. 4663-08-2016
PROPOSING AN INCREASE IN TAX REVENUE FROM THE AD VALOREM TAX
RATE FOR FISCAL YEAR 2017 AND SETTING DATES FOR PUBLIC HEARINGS
ON THE PROPOSED TAX RATE
WHEREAS, in accordance with Chapter X, Section 1, of the Charter of the City
of Fort Worth, the proposed budget and ad valorem tax rate for Fiscal Year 2017 were
submitted to the City Council at the Pre-Council Meeting on August 9, 2016; and
WHEREAS, it has been recommended that the City Council adopt an ad valorem
tax rate of $0.8350 per $100.00 in valuation, which is lower than the current actual,
adopted rate of $0.8550 per $100.00 in valuation but exceeds the effective tax rate of
$0.814481 per $100.00 in valuation; and
WHEREAS, revenue to be generated from adoption of the proposed tax rate is
needed to provide resources for vital services such as Police and Fire, which address
public safety concerns, and Libraries and Parks, which affect quality of life issues, and
to provide debt service revenue to help in addressing the infrastructure needs in a fast-
growing city; and
WHEREAS, pursuant to Section 26.05 of the Texas Tax Code, adoption of the
proposed tax rate requires the City Council to provide for and conduct two public
hearings on the proposed rate and to provide notice thereof; and
WHEREAS, at such hearings, the Fort Worth City Council will afford adequate
opportunity for proponents and opponents of the tax rate to present their views.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
1. That an ad valorem tax rate of $0.8350 per $100.00 in valuation for property
in the City of Fort Worth is being proposed for consideration in connection
with the proposed Fiscal Year 2017 budget, which the City Council is
expected to consider at its meeting on September 13, 2016.
2. That the City Council of the City of Fort Worth, Texas will hold two public
hearings on the tax rate, which would increase total tax revenue from
properties on the tax roll in the previous tax year by 2.52 percent in
comparison to the Effective Tax Rate.
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RESOLUTION NO. 4663-08-2016
3. That the public hearings will be held as part of the City Council meetings on
August 23, 2016 at 7:00 p.m., and August 30, 2016 at 7:00 p.m., in the City
Council Chambers, Fort Worth Municipal Building, 1000 Throckmorton
Street, Fort Worth, Texas, 76102.
4. That an adequate opportunity will be afforded at each public hearing for
proponents and opponents of the proposed tax rate to present their views.
5. That the City Secretary shall publish notice of such hearings as provided by
state law.
Adopted this 2�day of Au must, 2016.
etsy Price
Mayor
APPROVED AS TO FORM AND
LEGALITY:
Sarah J. Full en der, City Attorney
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