HomeMy WebLinkAboutResolution - 2022-R0344 - Proposed Tax RateResolution No. 2022-RO344
Item No. 7.3
August 9, 2022
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:
1. THAT the City Council of the City of Lubbock hereby adopts a proposed property tax
rate of $0.483230 per $100 valuation that will result in additional revenue. The breakout of the
tax rate is as follows:
$0.108317 per $100 valuation to the Interest and Sinking Fund;
$0.354866 per $100 valuation to the General Fund; and
$0.020047 per $100 valuation to the Economic Development Fund.
2. THAT the City Council of the City of Lubbock sets the date for the public hearing on the
proposed tax rate on September 6, 2022 at 5:30 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 9th day of August , 2022.
VOTING FOR PASSAGE:
Mayor Tray Payne
Council Member Christy Martinez -Garcia
Mayor Pro Tem Shelia Patterson Harris
Council Member Mark W. McBrayer
Council Member Steve Massengale
Council Member Dr. Jennifer Wilson
Council Member Laterelle Joy
Council members present but not voting:
Council members absent:
N/A
N/A
VOTING AGAINST PASSAGE:
T E ' AYOR
ATTEST:
- '11"L'? J�'P-Z.'t 'r - 1��
Rebe ca Garza, City Sec t
!)
APPROVED AS TO CONTENT:
1 0
D. Blu Koste ich, Chief Financial Officer
APPROVED AS TO FORM:
m ims, Assistant City Attorney