HomeMy WebLinkAboutResolution - 2021-R0288- Property Tax Rate - Section 26.05(d)Resolution No. 2021-R0288
Item No. 7.15
August 10, 2021
RESOLUTION
WHEREAS, the City Council of the City of Lubbock desires to place a proposal to
adopt a property tax rate that will result in additional revenue as outlined in Section 26.05(d)
of the Tax Code of the State of Texas on the agenda of a future meeting as an action item and
schedule public hearings; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of the City of Lubbock hereby adopts a proposed property tax
rate of $0.523230 per $100 valuation that will result in additional revenue. The breakout of
the tax rate is as follows:
$0.120266 per $100 valuation to the Interest and Sinking Fund;
$0.381257 per $100 valuation to the General Fund; and
$0.021707 per $100 valuation to the Economic Development Fund.
THAT the City Council of the City of Lubbock sets the date for the public hearing on
the proposed tax rate on September 7, 2021 at 5:00 p.m. in the City Council Chambers located
at 1314 Avenue K, Lubbock, Texas. A vote on the tax rate shall be placed upon a future City
Council agenda.
Passed by the City Council this 1 Oth
VOTING FOR PASSAGE:
Daniel M. Pope
Juan A. Chadis
Shelia Patterson Harris
Jeff Griffith
Steve Massengale
Randy Christian
Latrelle Joy
Council members present but not voting:
Council members absent: N/A
day of August , 2021.
N/A
VOTING AGAINST PASSAGE:
Ll--
DANIEL M. POPE, MAYOR
ATTEST:
;Q dxar� -X' N
Rebe ca Garza, City SeSi&
APPROVED AS TO CONTENT:
l lD. uKoh, Chief i cial Officer
City