EXECUTIVE SUMMARY
The proposed tax rate is not greater than the voter approval tax rate of $0.161856 but is greater than the no new revenue tax rate of $0.154576. The City is required to hold a public hearing on the tax rate. The public hearing will be held on September 17, 2024 at the beginning of the City Council meeting.
RECOMMENDATION
Staff recommends the property tax rate of $0.161856 per $100 valuation be adopted with $0.121606 per $100 valuation for the Maintenance & Operations and $0.040250 per $100 valuation for the Interest & Sinking.
The specific language required for the motion to adopt the ordinance setting the tax rate is:
"I move that the property tax rate be increased by the adoption of a tax rate of $0.161856 which is effectively a 4.7% increase in the tax rate."
The vote must be a record vote.
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