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HomeMy WebLinkAboutP.O. NO. 7446 ORDINANCE ADOPTING A TAX RATE FOR THE TAX YEAR 2026. P.O. NO. 7446 9/8/2025 LYN ORDINANCE NO. AN ORDINANCE ADOPTING A TAX RATE FOR THE TAX YEAR 2026 (FISCAL YEAR OCTOBER 1,2026—SEPTEMBER 30,2027) 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$0.574221 per One Hundred and No/100 Dollar ($100) valuation of property and the voter approval tax rate of $0.613482 per One Hundred Dollar valuation($100); and WHEREAS,on August 20,2026,the City Manager has submitted to the City Council the Budget for the Fiscal Year October 1, 2026 through September 30, 2027; 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$0.613482 per$100 valuation,which is effectively a 4.66 percent increase in the tax rate. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR, TEXAS: THAT,the City Council hereby moves that property taxes be increased by adoption of a tax rate of$0.613482 per$100 valuation, which is effectively a 4.66 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 4.66 PERCENT AND WILL INCREASE TAXES FOR MAINTENANCE AND OPERATIONS ON A S100,440 HOME BY APPROXIMATELY$39.43. 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 2026 as follows: Tax Rate to Fund Interest and Sinking Fund $0.250000 Tax Rate to Fund Maintenance and Operation Expenditures 0.363482 Total 2026 Tax Rate $0.613482 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,2026 A.D.,at a Meeting of the City Council of the City of Port Arthur, Texas by the following roll call vote: AYES: Mayor: Councilmembers: NOES: . Charlotte M. Moses, Mayor ATTEST: Christe Ned, City Secretary APPROVED AS TO FORM: Roxann Pais Cotroneo, City Attorney APPROVED "ro ' ; I INISTRATION: tit AikvOr Ronal): o , i , ana_er ,_ I. /_ I v4g./" L nd oswell, Director of Finance