HomeMy WebLinkAboutResolution - 6426 - Propose Tax Rate, Schedule Public Hearing - 07_27_1999Resolution No. 6426
July 27, 1999
Item No. 7
RESOLUTION
WHEREAS, Section 26.05(d) of the Tax Code of the State of Texas requires notice of a
proposed increase in property tax revenue, even if the property tax rate remains the same; NOW
THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the tax rate for FY 1999-2000 is proposed at the same rate as last year, which is at
fifty eight cents (58¢) per $100 valuation, which amount will result in a tax revenue increase
because of new construction and re-evaluation of property by the tax appraisal district; and
THAT a public hearing be held on the proposed tax rate and that notice be published of
the date, time, and place of the hearing, and providing information about the proposed tax rate at
least seven (7) days before the public hearing.
Passed by the City Council of the City of Lubbock, Texas, on this 27th day of July, 1999, by the
following vote:
For the Proposal: Against the Proposal:
Mayor Windy Sitton
Mayor Pro Tern Max Ince
Councilmember Victor Hernandez
Councilmember Marc McDougal
Councilmember David Nelson
Councilmember T. J. Patterson
Council Members present but not voting: None
Council Members absent: Councilmember Alex " Ty" Cooke
Y SI TON, MAYOR
A EST:
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Kaythi arnell, City Secretary
APPROVED AS TO CONTENT:
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Director of Managem t Services
APPROVED AS TO FORM:
Linda L. Chamales
Supervising Attorney, Office Practice Section
LLC:cp ccdocs/ra Reven=99.Res
July 20, 1999
Resolution No. 6426
July 27, 1999
Item No. 7
Notice of Public Nearing on Tax Increase
The City of Lubbock will hold a public hearing on a proposal to increase total
tax revenues from properties on the tax roll by 3.65 percent. Your individual
taxes may increase or decrease, depending on the change in the taxable value
of your property in relation to the change in taxable value of all other property
and the tax rate that is adopted.
The public hearing will be held on August 13, 1998 at 5 p.m. in Council
Chambers at 1625 13th Street, Lubbock, Tx.
For the proposal: Mayor Windy Sitton and Council Members Victor
Hernandez, T.J. Patterson, Max Ince, Marc McDougal, and Alex "Ty"
Cooke
Against the proposal: Council Member J. David Nelson
Present and not voting: None
Absent: None
The following table compares taxes on an average home in this taxing unit
last year to taxes proposed on the average home this year. Again, your indi-
vidual taxes may be higher or lower, depending on the taxable value of your
property.
Last Year This Year
Average residence homestead value $58,945 $60,338
General exemptions available .
(amount available on the average
homestead, not including senior
citizen's or disabled person's
exemptions) $ -0- $ -0-
Average taxable value $58,945 $60,338
Tax rate . 58/$100 .581$100
Tax $ 341.88 $ 349.96
Under this proposal, taxes on the average homestead would increase by $8.08 or 2.36
percent compared with last year's taxes. Comparing tax rates without adjusting for
changes in property value, the tax rate would decrease by $0.00 per $100 of taxable
value or 0.00 percent compared to last year's tax rate. These tax rate figures are not
adjusted for changes in the taxable value of property.
1`t Notice
Resolution No. 6426
July 27, 1999
Item No. 7
Important information
about Your City Taxes
• Your City property tax rate is
not going up
• City property tax rate has decreased
twice since 1989
• $25 million cost for 1993 bond
projects with voter -approved tax
increase was absorbed in the City
budget without raising tax rate
Property Tax Per Capita
Selected Texas Cities -YMLSurvey
$350
$300
$250
$200
$150
$100
$50
$0
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