HomeMy WebLinkAbout(0151) RESOLUTION - Ratify Prop Tax Revenue...FY2020-2021A Resolution
NO.
RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE
FISCAL YEAR 2020-2021 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
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 2020-2021 budget will raise more revenue from
property taxes than the previous year because, despite keeping the actual property tax rate of
$0.7475 per $100 value in Fiscal Year 2019-2020 the same $0.7475 per $100 value in Fiscal
Year 2020-2021, 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 Fort Worth hereby ratifies the property tax revenue increase
reflected in the Fiscal Year 2020-2021 budget.
Adopted this 22"d day of September, 2020.
ATTEST:
Mary Kayser, City Secretary