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File #: 2019-0380   
Type: Ordinance Status: Approved
File created: 8/26/2019 In control: City Council
On agenda: 9/26/2019 Final action: 9/26/2019
Title: Consider an ordinance adopting the 2019 Property Tax Rate for the City of Round Rock. (Second Reading)
Attachments: 1. Ordinance, 2. FY 2020 Budget Highlights, 3. FY 2020 Budget in Brief
Consider an ordinance adopting the 2019 Property Tax Rate for the City of Round Rock. (Second Reading)

This ordinance sets the ad valorem tax rate for the tax year 2019. The rate is based on net taxable property value at January 1, 2019, to assess taxes for collection during fiscal year 2019/20. The proposed tax rate for 2019 is $0.439000 per $100 valuation. The proposed rate will yield the tax revenues required to fund the 2019/20 Annual Budget as proposed to Council and adopted at the first reading on August 22, 2019.

The 2019 proposed tax rate of $0.439000 exceeds the effective tax rate of $0.401615. The increase in the proposed rate over the effective rate is to provide funding for rising operating costs for public safety and city services, public safety equipment, and new debt payments for the road expansion program. Under this proposal, total City taxes on the median valued home with an appraised value of $255,198 will be $1,120.

The proposed tax rate provides adequate funding for the proposed FY 2019/2020 City Manager’s Budget.

“I move that the property tax rate be increased by the adoption of the tax rate of $0.439000, which is effectively a 9.3 percent increase in the tax rate.”

Summary of Proposed Tax Rate:

Maintenance & Operations (M&O) portion $0.313509
Debt Portion $0.125491
Proposed 2019 Tax Rate $0.439000

2018 Tax Rate $0.420000
2019 Effective Tax Rate $0.401615
2019 Rolback Tax Rate $0.441338

State law further requires that a tax rate above the effective tax rate requires a 60% approval by the governing body. For the City of Round Rock, that means five of seven council members must vote y...

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