HomeMy WebLinkAboutResolution 4850-09-2017 A Resolution
NO. 4850-09-2017
RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE
FISCAL YEAR 2017-2018 BUDGET, IN ACCORDANCE WITH SECTION
102.007(c) OF THE TEXAS LOCAL GOVERNMENT CODE
WHEREAS, pursuant to Section 102.007(c) of the Texas Local Government Code,
effective September 1, 2007, the adoption of a budget that will require raising more
revenue from property taxes than in the previous year requires a separate vote of the
governing body to ratify the increased property tax revenues reflected in the budget; and
WHEREAS, the Fiscal Year 2017-2018 budget will raise more revenue from
property taxes than the previous year because, despite a decrease in the actual property
tax rate from $0.835 per $100 value in Fiscal Year 2016-2017 to $0.805 per $100 value
in Fiscal Year 2017-2018, the revenue from the assessment of property taxes will create
more revenue than last year due to increases in appraised values on pre-existing
improvements and to new improvements placed on the tax rolls.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
That the City Council of the City of Fort Worth hereby ratifies the property tax
revenue increase reflected in the Fiscal Year 2017-2018 budget.
Adopted this 26th day of September, 2017.
OF FRT
ATTEST: �A LL
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• 'r Wtsary J. Kayy
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