Title
Consider public testimony regarding the 2020 Property Tax Rate for the City of Round Rock.
Body
The Texas Tax Code requires the City Council to hold one public hearing on the proposed tax rate prior to adoption if the proposed rate exceeds the current no new revenue tax rate.
The 2020 proposed tax rate of $0.439000 exceeds the no new revenue tax rate of $0.425550. The increase in the proposed rate over the no new revenue rate is to provide additional funding for roads.
The proposed rate is lower than the Voter Approval Rate of $0.460650, therefore no election is required. The Council can adopt a final tax rate that is lower than the proposed rate included in the published notices, but it cannot adopt a higher tax rate without repeating the notice and hearing process and giving taxpayers the opportunity to hear and comment about the higher tax increase.
The Voter Approval Rate for 2020 is $0.460650.
Summary of Propose Tax Rate:
Maintenance & Operations portion $0.296308
Debt portion $0.142692
Proposed 2020 Tax Rate $0.439000
2019 Tax Rate $0.439000
2020 No New Revenue Tax Rate $0.425550
2020 Voter Approval Tax Rate $0.460650
Proposed 2020 Tax Rate $0.439000
2020 No New Revenue Tax Rate $0.425550
Increase over No New Revenue Rate 1.3 cents
Allocation of Increase Above No New Revenue Rate
New Road Construction Plan 0.3 cents
Neighborhood Street Maintenance 1.0 cents
Total Proposed Increase 1.3 cents
This is the only public heari...
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