HomeMy WebLinkAboutResolution 4978-09-2018 A Resolution
NO. 4978-09-2018
RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE
FISCAL YEAR 2018-2019 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 2018-2019 budget will raise more revenue from property taxes
than the previous year because, despite a decrease in the actual property tax rate from $0.805 per
$100 value in Fiscal Year 2017-2018 to $0.785 per $100 value in Fiscal Year 2018-2019, 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 places 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 Fort Worth hereby ratifies the property tax revenue increase
reflected in the Fiscal Year 2018-2019 budget.
Adopted this 18th day of September,2018.
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ATTEST: Al
onald Gonzales,Assista Ci y Secretary
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