HomeMy WebLinkAbout(0068) RESOLUTION - Tax Inc.RatifyA Resolution
NO.
RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE
FISCAL YEAR 2019-2020 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 2019-2020 budget will raise more revenue from
property taxes than the previous year because, despite a decrease in the actual property tax
rate from $0.785 per $100 value in Fiscal Year 2018-2019 to $0.7475 per $100 value in
Fiscal Year 2019-2020, 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 2019-2020 budget.
Adopted this 17th day of September, 2019.
ATTEST:
Mary Kayser, City Secretary