To: Mark R. Hafner, City Manager
From: Aaron Rector, Director of Administrative Services
Subject:
Title
Consider an ordinance levying taxes to be assessed on all taxable properties within the city limits of the City of Keller, Texas for the Tax Year 2021 (Fiscal Year 2021-22).
Action Requested:
Approve the ordinance levying taxes to be assessed on all taxable properties within the city limits of the City of Keller for Fiscal Year 2021-22.
Background:
The tax rate proposed in the fiscal year 2021-22 budget is $0.39500/$100 of taxable valuation which is the same total rate as the current year.
The proposed tax rate distribution is summarized (allocated) as follows:
Purpose Rate Percent
Maintenance and operations (M&O) $0.336030 85.1%
Debt service (I&S) 0.058970 14.9%
Total $0.395000 100.0%
The proposed 2021-22 budget tax rate is lower than the no new revenue rate of $0.406220 so there is no state required motion language or record vote required.
At the August 17, 2021, Regular City Council meeting, City Council approved Resolution No. 4401 which set a maximum tax rate under both the no new revenue and voter-approval rate. Therefore, the City is not required to hold a public hearing on a proposal to consider the adoption of a tax rate.
Financial Impact:
The adoption of the tax rate determines the tax levy that is necessary to support the annual budget for the City of Keller. The total proposed levy is $23,706,216 or an increase of $123,754 or 0.52% from the current year levy. The average residential taxable value is $347,898 and the average household levy would be $1,374 at the proposed rate of $0.3950/$100. That is a decrease of $15.48 from the current household levy.
Citizen Input/Board Review:
Not applicable.
Legal Review:
Not applicable.
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial