HomeMy WebLinkAbout(0108) RESOLUTION- Proposed 2022 Tax Rate (2)A Resolution
No.
PROPOSING A TAX RATE OF $0.7325 PER $100.00 IN VALUATION WHICH WILL
RESULT IN AN INCREASE IN TAX REVENUE FOR FISCAL YEAR 2022 AND
SETTING A DATE FOR THE PUBLIC HEARING ON THE PROPOSED TAX RATE
WHEREAS, in accordance with Chapter X, Section 1, of the Charter of the City of Fort
Worth, the recommended capital improvement plan and ad valorem tax rate for Fiscal Year 2022
were presented to the City Council at the City Council Work Session on August 3, 2021 and the
recommended operating budget was submitted to the City Council at the City Council Work
Session on August 10, 2021;
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 $0.7325 per $100.00 in valuation, which
is lower than the current actual, adopted rate but exceeds the no -new -revenue tax rate of $0.725928
per $100.00 in valuation;
WHEREAS, revenue to be generated from adoption of a proposed tax rate higher than the
no -new -revenue tax 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;
WHEREAS, pursuant to Texas Tax Code Section 26.05, adoption of a tax rate greater than
either the no -new -revenue or the voter -approval tax rate requires the City Council to provide for
and conduct one public hearing on the proposed rate and to provide notice thereof; and
WHEREAS, at such hearing, the Fort Worth City Council will afford adequate opportunity
for proponents and opponents of the proposed tax rate to present their views.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
1. That a public hearing on the proposed rate will be held as part of the City Council
meeting on Tuesday, September 14, 2021 at 7:00 p.m., in the City Council Chambers, City Hall,
200 Texas Street, Fort Worth, Texas, 76102.
2. That an ad valorem tax rate of $0.7325 per $100.00 in valuation for property in the
City of Fort Worth is being considered in connection with the proposed Fiscal Year 2022 budget,
which the City Council is expected to consider at its meeting on Tuesday, September 21, 2021.
3. That an adequate opportunity will be afforded at the public hearing for proponents
and opponents of the proposed tax rate to present their views.
4. That the City Secretary shall publish notice of such hearing as provided by state
Resolution No.
law.
Adopted this 24"' day of August, 2021.
Mattie Parker, Mayor
APPROVED AS TO FORM AND LEGALITY:
Sarah Fullenwider, City Attorney
ATTEST:
Ronald P. Gonzales, Acting City Secretary