R2004-129 08-09-04 FAILED FAILED 8/9/04
Resolution No. R2004-129
RESOLUTION NO. R2004-'129
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, PROPOSING TO INCREASE TAXES BY 3.'18% ABOVE THE
EFFECTIVE TAX RATE BASED ON A PROPOSED TAX RATE OF .696
PER $'100 OF VALUATION AND SETTING A PUBLIC HEARING FOR
AUGUST '19, 2004 AT 6:30 P.M.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section '1. That the City's proposes to increase taxes 3.18% above the effective
tax rate based on a proposed tax rate of .696 per $100 valuation.
Section 2. That the public hearing on the proposed increase be scheduled for
August 19, 2004, at 6:30 p.m.
PASSED, APPROVED and ADOPTED this the
A.D., 2004.
9th day of Auqust
ATTEST:
TOM REID
MAYOR
YOUNG LORFING, TRMC
CITY SECRETARY
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
City of Pearland
GOVERNING BODY SUMMARY #18
Comparison of This Year's Tax Levy with Last Year's Tax Levy
August 02, 2004
DESCRIPTION OF TAX RATE
TAX RATE
PER $100
Last year's Tax Levy*: $17,977,153
THIS YEAR'S
TAX LEVY**
LAST YEAR'S TAX RATE
EFFECTIVE TAX RATE
NOTICE & HEARING LIMIT *
ROLLBACK TAX RATE
m PROPOSED TAX RATE
0.696000
0.658692
0..678452
0..701551
0.696000
$20,464,500
$19,367,532
$19,449,65 5
$19,449,655
$20,464,500
TAX LEVY
INCREASE***
$2,487,347
$1,390,379
$1,472,502
$1,472,502
$2,487,347
* This figure is calculated based on Texas Property Tax Code's definition of "last year's levy".
**
***
This year's tax levies are calculated using line 19 of the Effective Tax Rate Worksheet,
Tax levy increase is the difference between this year's tax levy and last year's tax levy.
fhe Notice & Hearing Limit is the highest tax rate that may be adopted without notices and a
public hearing. It is the lower of the rollback tax rate or 103 percent of the effective tax rate.
Andrea,
Debt rate you must adop = $1.348208 ;
To keep last year's tax rate triggers notices and a hearing to advertise a tax increase of 5.66% above the
effective tax rate. Here is revenue it will generate: NOTE: 2003 M & 0 Revenue = $8,929,169
Last year's rate = Debt Service $.348208 (must adopt)
M & O $.347792 = $10,559,443 (Inc over 2003 revenue $1,630,273)
Total $.696
Notice and hearing limit requires no tax rate increase advertising. Here is revenue it will generate:
N & H Limit= Debt Service
M&O
Total
$.348208 (must adopt)
$.330244 = $10,026 661 ( Inc over 2003 revenue $1,097,492)
$.661485
Your ETR/RBR publication will run in Wednesday's paper. Please let me know what they want to do
in order to get coordinated on the calendar, if we need to. I have attached a calendar and a copy of the
publication. Please call me with questions, etc.
Ro' V in