City of San Marcos - File #: Ord. 2022-76

• File #: Ord. 2022-76
• Version: 1
• Type: Ordinance
• Status: Individual Consideration
• File created: 8/1/2022
• In control: City Council
• On agenda: 9/6/2022
• Title: Receive a Staff presentation and hold a Public Hearing to receive comments for or against Ordinance 2022-76, setting the Tax Rate for the 2022 Tax Year at 59.30 cents on each $100 of taxable value of real property that is not exempt from taxation; levying taxes for the use and support of the Municipal Government of the City for the fiscal year beginning October 1, 2022, and ending September 30, 2023; providing a sinking fund for the retirement of the bonded debt of the city; including procedural provisions; and providing an effective date; and consider approval of Ordinance 2022-76, on the first of two readings.

Date	Ver.	Action By	Action	Result
9/6/2022	1	City Council

AGENDA CAPTION:

Title

Receive a Staff presentation and hold a Public Hearing to receive comments for or against Ordinance 2022-76, setting the Tax Rate for the 2022 Tax Year at 59.30 cents on each $100 of taxable value of real property that is not exempt from taxation; levying taxes for the use and support of the Municipal Government of the City for the fiscal year beginning October 1, 2022, and ending September 30, 2023; providing a sinking fund for the retirement of the bonded debt of the city; including procedural provisions; and providing an effective date; and consider approval of Ordinance 2022-76, on the first of two readings.

Body

Meeting date:  September 6, 2022

Department:  Finance, Finance Director Jon Locke

Amount & Source of Funding
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Account Number:  Click or tap here to enter text.

Funds Available:  Click or tap here to enter text.

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Fiscal Note:
Prior Council Action:  Budget Policy Statement, Budget Workshops

City Council Strategic Initiative:  [Please select from the dropdown menu below]

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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:

The City’s 2022 Tax Rate Calculation Worksheet was prepared by the Hays County Tax Assessor-Collector and is available on the Hays County website and in the City’s Fiscal Year 2023 Proposed Budget.  The required ‘Notice about 2022 Tax Rates’ was also prepared by the Hays County Tax Assessor-Collector and published on the City’s website on August 19, 2022.  The proposed maximum tax rate of 60.30 cents per $100 valuation was set by Resolution of City Council on August 18, 2022.  This proposed maximum tax rate exceeds the lesser of the No New Revenue Tax Rate or the Voter Approval Rate and, as required by state law, requires a public hearing before its adoption.  Notice of the public hearing scheduled for September 6^th and September 20^th was published in the San Marcos Daily Record on August 30, 2022.

The Fiscal Year 2023 Proposed Budget, as presented to City Council on August 18^th, is based on a tax rate of 59.30 cents per $100 valuation, which is one-cent below the proposed maximum tax rate.  This allows City Council the flexibility to add the one-cent to the budget to be used specifically for the addition of public safety personnel.

Council Committee, Board/Commission Action:
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Alternatives:

Modify ordinance to reflect a tax rate of 60.30 cents per $100 valuation.

Recommendation: 

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