HomeMy WebLinkAboutResolution - 2020-R0271 - Proposed Tax Rate & Setting Public HearingsResolution No. 2020-RO271
Item No. 8.12
August 11, 2020
I R *061 9MIZ
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 $0.541573 per $100 valuation that will result in additional revenue. The breakout of
the tax rate is as follows:
$0.120433 per $100 valuation to the Interest and Sinking Fund;
$0.398672 per $100 valuation to the General Fund; and
$0.022468 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 2, 2020 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 Ith
VOTING FOR PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tern Jeff Griffith
Council Member Juan A. Chadis
day of August , 2020.
Council Member Shelia Patterson Harris
Council Member Steve Massengale
Council Member Randy Christian
Council members present but not voting:
VOTING AGAINST PASSAGE:
NIA
Council members absent: Council Member Latrelle Joy
DANIEL M. POPE, MAYOR
ATTEST:
Rebec Garza, City Secr t
APPROVED AS TO CONTENT:
DAM Kost6lich, Chie ' ncial Officer
APPROVED AS TO FORM:
40
ms, sistant ttorney �K-x