Page 348 - Hurst Adopted FY22 Budget

City Council Staff Report

SUBJECT: Consider Ordinance 2489, first reading, setting the tax rate for the 2021
tax year

Supporting Documents:

Meeting Date: 9/14/2021
Ordinance 2489
Department: Fiscal Services

Reviewed by: Clayton Fulton

City Manager Review:

Background/Analysis:

According to Section 26.05 of the Tax Code, a taxing unit may not impose property
taxes in any (fiscal) year until the governing body has adopted a tax rate for that year.

Senate Bill 2 as passed by the 86 Legislature requires the following language in caps
th
and larger font placed in the Ordinance adopting a Maintenance and Operations tax
rate that is higher than the No-New-Revenue Maintenance and Operations tax rate.
Substantially similar information is required to be posted on the home page of the
City’s Internet website if the proposed rate is adopted.

“THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND
OPERATIONS THAN LAST YEAR’S TAX RATE. THE TAX RATE WILL
EFFECTIVELY BE RAISED BY 1.72 PERCENT AND WILL RAISE TAXES FOR
MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY
APPROXIMATELY $8.86.”

Funding and Sources Community Sustainability:

The proposed tax rate funds the Fiscal Year 2022 budget. Taxes are assessed per
$100 of taxable value as established by the Tarrant Appraisal District. In accordance
with our community values, the Council held a public hearing on the budget and to
allow for comment on the proposed budget and posted notice of the meeting to adopt
the tax rate. The Fiscal Year 2022 budget was developed based upon the tenants of
the Hurst Way and is consistent with the Council’s strategic priorities. The proposed
tax rate will provide the necessary property tax revenue to fund the Fiscal Year 2022
budget.

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