HomeMy WebLinkAboutResolution 5118-08-2019 A Resolution
No. 5118-08-2019
PROPOSING AN INCREASE IN TAX REVENUE FROM THE AD VALOREM
TAX RATE FOR FISCAL YEAR 2020 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 2020 were submitted to the
City Council at the City Council Work Session on August 13, 2019; and
WHEREAS, in order to fund the budget as proposed by the City Manager and to provide
flexibility in evaluating options to address pressing funding concerns, it has been recommended
that the City Council consider an ad valorem tax rate of$0.74750 per$100.00 in valuation, which
is lower than the current actual, adopted rate but exceeds the effective tax rate of$0.729187 per
$100.00 in valuation; and
WHEREAS, revenue to be generated from adoption of a proposed tax rate higher than the
effective 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
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 a tax rate
greater than either the effective or rollback 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$0.7475 per$100.00 in valuation for property
in the City of Fort Worth is being considered in connection with the
proposed Fiscal Year 2020 budget, which the City Council is expected to
consider at its meeting on September 17, 2019.
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 2.51 percent (2.51%)
in comparison to the Effective Tax Rate.
Resolution No. 5118-08-2019
3. That the public hearings will be held as part of the City Council meetings on August
27, 2019 at 7:00 p.m., and September 10, 2019 at 7:00 p.m., in the City Council
Chambers, Fort Worth Municipal Building, 200 Texas 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 13th day of August, 2019.
LIael-sy Price, M
APPROVED AS TO FORM AND LEGALITY:
Sarah Fulle wider, City Attorney
ATTEST: (!D
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