HomeMy WebLinkAboutPO 6992: ADOPTING THE TAX RATE FOR FY 2021-2022 P.O. NO. 6992 KD: 09/8/2021 ORDINANCE NO. AN ORDINANCE ADOPTING A TAX RATE FOR THE TAX YEAR 2021 (FISCAL YEAR OCTOBER 1,2021 —SEPTEMBER 30,2022) WHEREAS, the Tax Assessor-Collector has calculated and submitted to the City Council, pursuant to Section 26.04 of the Texas Property Tax Code, the no-new revenue tax rate of$0.705171 per One Hundred and No/100 Dollar ($100) valuation of property and the voter approval tax rate of $0.704715 per One Hundred Dollar valuation ($100); and WHEREAS,on August 13,2021,the City Manager has submitted to the City Council the Budget for the Fiscal Year October 1, 2021 through September 30, 2022; and WHEREAS, pursuant to 26.05(b) of the Texas Property Tax Code, the City Council hereby moves that property taxes be increased by adoption of a tax rate of$0.740715 per$100 valuation,which is effectively a 5.0405 percent increase in the tax rate. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR: THAT,the City Council has hereby moves that property taxes be increased by adoption of a tax rate of$0.740715 per$100 valuation, which is effectively a 5.0405 percent increase in the tax rate. THAT,pursuant to Section 26.05(A)of the Texas Property Tax Code,THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATION THAN LAST YEAR'S TAX RATE. THAT,pursuant to Section 26.05(B)of the Texas Property Tax Code,THE TAX RATE WILL EFFECTIVELY BE RAISED BY 7.9998 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $36.45. THAT, pursuant to Section 26.05 of the Texas Property Tax Code, the City Council hereby moves that property taxes be increased by the adoption of an Ad Valorem tax rate on One Hundred and No/100 Dollar ($100) valuation for tax year 2021 as follows: Tax Rate to Fund Interest and Sinking Fund $0.248631 Tax Rate to Fund Maintenance and Operation Expenditures 0.492084 Total 2021 Tax Rate $0.740715 THAT, a copy of the caption of this Ordinance be spread upon the Minutes of the City Council. READ,ADOPTED,AND APPROVED,this day of September,2021 A.D.,at a Meeting of the City Council of the City of Port Arthur, Texas by the following vote: AYES: Mayor: Councilmembers: NOES: Thurman"Bill"Bailie, Mayor ATTEST: Sherri Bellard, City Secretary APPROVED AS TO FORM: Val Tizeno, City Attorney APPROVED FOR ADMINISTRATION: Ronald Burton, City Manager Kandy Danie Interim Director of Finance