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HomeMy WebLinkAboutResolution 4016-08-2011A Resolution NO. 4016-08-2011 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, PROPOSING THE INCREASE OF TAX REVENUE FROM THE AD VALOREM TAX RATE FOR FISCAL YEAR 2012 AND SETTING PUBLIC HEARING DATES ON THE TAX RATE WHEREAS, in accordance with Chapter X, Section 1, of the City Charter, the proposed budget and proposed ad valorem tax rate for Fiscal Year 2012 was submitted to the City Council on August 9, 2011; and WHEREAS, the proposed ad valorem tax rate of $0.8550 exceeds the effective tax rate of $0.849672; and WHEREAS, pursuant to Section 26.05 of the Texas Tax Code, the City Council will provide for and conduct two public hearings on the proposed tax rate and provide notice of these hearings; 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 $0.8550 per $100.00 of taxable valuation of properties in the City of Fort Worth is being proposed for Fiscal Year 2012. 2. That the City Council of the City of Fort Worth, Texas will hold two public hearings on a proposal to increase total revenue from properties on the tax roll in 2010 by 2.6 percent. 3. That the public hearings will be held on August 23, 2011 at 10:00 a.m., and September 13, 2011 at 7:00 p.m., in the City Council Chambers, Fort Worth Municipal Building, 1000 Throckmorton Street, Fort Worth, Texas, 76102. &C .WORT !J RESOLUTION NO. 4016 -08 -2011 4. That an adequate opportunity will be afforded 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 in Section 26.06 of the Texas Tax Code. Adopted this 9t" day of Au ust, 2011 APPROVED AS TO FORM AND LEGALITY: Sarah J. Fulle ider, City Attorney ATTEST: Marty Hendrix, Cil�y Secretary &C .WORT 1J APPROVED CITY COUNCIL AUG 09 2011 City Secretary of the City of Fort Worth, Texas