DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: Maria Villagomez
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Public Hearings for the 2015 Ad Valorem Tax Rate and FY 2016 Proposed Budget
SUMMARY:
On Wednesday, September 2, 2015, at 6:00 PM in City Council Chambers two Public Hearings are scheduled:
1) 2015 Proposed Ad Valorem Tax Rate Public Hearing for the FY 2016 Proposed Budget
2) FY 2016 Proposed Budget Public Hearing
The Public Hearings will provide an opportunity for residents to comment on the 2015 Proposed Ad Valorem Tax Rate for the FY 2016 Proposed Budget and FY 2016 Proposed Budget. The Public Hearing on the Proposed Ad Valorem Tax Rate will be held at 6:00 PM immediately followed by the Public Hearing on the FY 2016 Proposed Budget.
BACKGROUND INFORMATION:
The FY 2016 Proposed Budget was presented to the Mayor and City Council on August 6, 2015. The FY 2016 Budget Development Strategy included over 30 budget input meetings held in June to receive comments prior to the proposal of the FY 2016 Budget. Five additional Community Budget Open Houses were held from August 17 to August 25 to receive feedback on the FY 2016 Proposed Budget. In addition to the Open Houses, the Budget Calendar includes two Budget Public Hearings at City Council Chambers on Wednesday, August 19, 2015 and Wednesday, September 2, 2015.
State Law requires that a municipality hold two Tax Rate Public Hearings when the Proposed Ad Valorem Tax Rate exceeds the Effective Tax Rate. The first Public Hearing is scheduled for Wednesday, August 19, 2015 and the second Public Hearing is scheduled for Wednesday, September 2, 2015. The FY 2016 Budget proposes a City Property Tax Rate decrease of 3/4 of 1 cent.
City Charter also requires that one Public Hearing on the Proposed Budget be held. Staff recommended two Public Hearings on the FY 2016 Proposed Budget. The first was held on Wednesday, August 19, 2015 and the second is sched...
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