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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Agenda Date Requested: September 30, 2019 <br />Requested By: Michael G. Dolby, CPA <br />Department: Finance <br />(* Report Resolution (" Ordinance <br />Exhibits: None <br />Appropriation <br />Source of Funds: <br />Account Number: <br />Amount Budgeted: <br />Amount Requested: <br />Budgeted Item: <br />SUMMARY <br />r Yes r No <br />House Bill 3195, passed by the Texas Legislature in 2007, amended Section 102.007 of the <br />Texas Local Government Code to require that the City Council must take a separate vote to <br />ratify increased property tax revenues that are reflected in the budget. The FY 2019-20 budget <br />is projected to raise more property tax revenues than in FY 2018-19; therefore, the City Council <br />is required to take a separate vote to ratify the property tax revenue increase. The projected <br />increase in revenues from property taxes is reflected in the budget as presented. <br />The budget will raise more revenue from property taxes than last year's budget by an amount <br />of $ 84,307, which is a 0.37 percent increase from last year's budget. The property tax revenue <br />to be raised from new property added to the tax roll this year $818,801. <br />RECOMMENDED MOTION <br />I move that the Council ratify the property tax revenue increase. <br />Approved for the City Council meeting agenda <br />Corby D. Alexander, City Manager <br />Date <br />