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Home My WebLink AboutCC 2017-09-06 Agendas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he Office of the City ManagerDATE:September 6, 2017 SUBJECT:Conduct a Public Hearing on the Tax Year 2017(Fiscal Year 2017/2018) Tax Rate. PRESENTER:Robert Myers, Budget Director SUMMARY: The City Council is requested to open a public hearing on the proposed 0.59centsper $100 of valuation tax rate and receive public comment. At the conclusion of the public comments, Council is requested to announce Monday, September 11, 2017as the date of the vote on the adoption of the tax rate. After this announcement, Council is requested to close the public hearing. No action is required at this hearing as it is held for the purpose of receiving public comment. GENERAL DESCRIPTION: State lawrequires the City to hold two public hearings on the proposed property tax rate if the proposed rate exceeds the lower of the effective tax rate or the rollback rate. Because the proposed tax rate exceeds the effective tax rate of 0.575137cents, two public hearings are necessary. The first public hearing was held Monday, August 28, 2017during the regular 7:00 p.m. City Council meeting. The vote to adopt the proposed tax rate of 0.59cents is scheduled to appear as an action item on the September 11, 2017City Council agenda for the regular 7:00 p.m. City Council meeting. If adopted, this will reduce the tax rate by .02 cents from the FY 2016/17 Adopted Tax Rate for a total rate of $0.59 cents for FY 2017/18. Individual taxpayers’ property taxes may decrease, increase or remain the same depending on the appraised value of their property. Senior and disabled property owners that have a tax ceiling (even if their property values have increased) will pay the same amount of property tax as the previous year unless their appraised property value decreased. RECOMMENDATION: Open a public hearing on the Tax Year 2017(Fiscal Year 2017/2018)Proposed Tax Rate, receive public comments, and announce Monday, September 11, 2017as the date of the vote on the adoption of the tax rate, and close the public hearing.