HomeMy WebLinkAboutResolution - 2023-R0388 - Proposed Tax Rate For Additional Revenue - 08/08/2023Resolution No. 2023-R0388
Item No. 8.1
August 8, 2023
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 $0.480164 per $100 valuation that will result in additional revenue. The breakout of the
tax rate is as follows:
$0.109783
$0.351999
$0.018382
per $100 valuation to the Interest and Sinking Fund;
per $100 valuation to the General Fund; and
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 5, 2023 at 2:00 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 8th
VOTING FOR PASSAGE:
Tray Payne
Christy Martinez-Garcia
Sheila Patterson Harris
Mark W. McBrayer
Dr. Jennifer Wilson
Latrelle Joy
Council members present but not voting:
day of August , 2023.
VOTING AGAINST PASSAGE:
Council members absent: Steve Massengale
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ATTEST:
Co rtney Paz, City cretary
APPROVED AS TO CONTENT:
� A
D. Blu Kost ich, Chief Financial Officer
Al'1'ROVED AS TO FORM:
� . .
A y L. ims, Assistant City Attorney