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R2011-099 - 2011-10-03RESOLUTION NO. R2011-99 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, VOTING ON PROPERTY TAX REVENUE INCREASE OF 2.39% AND PLACING ON THE AGENDAS OF SEPTEMBER 19, 2011 AND SEPTEMBER 26, 2011 CITY COUNCIL MEETINGS, CONSIDERATION OF THE PROPOSED FISCAL YEAR 2011-2012 TAX RATE AND SETTING THE PUBLIC HEARINGS ON THE TAX RATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS: Section 1. That the agendas of the September 19, 2011 and September 26, 2011, City Council meetings shall include consideration of the proposed fiscal year 2011- 2012 tax rate of $.6851 per $100.00 valuation. Section 2. That public hearings on said proposed tax rate are scheduled for September 7, 2011, and September 12, 2011, at 6:30 p.m. PASSED, APPROVED and ADOPTED this the 29th day of August A.D., 2011. ATTEST: APPROVED AS TO FORM: ARRIN M. COKER CITY ATTORNEY TOM REID MAYOR • Notice of Public Hearing on Tax Increase Page 1 of 2 Notice of Public Hearing on Tax Increase The CITY OF PEARLAND will hold two public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 2.39 percent(percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even 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 first public hearing will be held on September 7, 2011 at 6:30pm at City Hall, 3519 Liberty Drive, Pearland, TX 77581 The second public hearing will be held on September 12 at 6:30pm at City Hall, 3519 Liberty Drive, Pearland, TX 77581 The members of the governing body voted on the proposal to consider the tax increase as follows: FOR: AGAINST: PRESENT and not voting: ABSENT: The average taxable value of a residence homestead in CITY OF PEARLAND last year was $175,408. Based on last year's tax rate of$0.665100 per$100 of taxable value,the amount of taxes imposed last year on the average home was $1,166.64. file:///I:/AA%20Council/AA%20Paperless%20Agenda/2011/2011-08-29Backup/Finance/... 8/30/2011 Notice of Public Hearing on Tax Increase Page 2 of 2 The average taxable value of a residence homestead in CITY OF PEARLAND this year is $172,882. If the governing body adopts the effective tax rate for this year of$0.669125 per $100 of taxable value,the amount of taxes imposed this year on the average home would be $1,156.80. If the governing body adopts the proposed tax rate of$0.685100 per$100 of taxable value, the amount of taxes imposed this year on the average home would be $1,184.41. Members of the public are encouraged to attend the hearings and express their views. file:///I:/AA%20Council/AA%20Paperless%20Agenda/2011/2011-08-29Backup/Finance/... 8/30/2011