09-14-15 Regular Meeting of La Porte City Council

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REQUEST FOR CITY COUNCIL AGENDA ITEMREQUEST FOR CITY COUNCIL AGENDA ITEM September 14, September 14, AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: 20152015 N/AN/A Source of Funds:Source of Funds: Michael G. Dolby, CPAMichael G. Dolby, CPA Requested By:Requested By: Account Number:Account Number: FinanceFinance Department:Department: Amount Budgeted:Amount Budgeted: Report:Resolution:Resolution:Ordinance:Ordinance: Amount Requested:Amount Requested: Other: Budgeted Item:Budgeted Item:YESYESNONO AttachmentsAttachments : : SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS House Bill 3195, passed by the Texas Legislature in 2007, amends Section 102.007 of the Texas Local House Bill 3195, passed by the Texas Legislature in 2007, amends Section 102.007 of the Texas Local Government Code, requires that the Council must take a separate vote to ratify increased property tax Government Code, requires that the Council must take a separate vote to ratify increased property tax revenues that are reflected in the budget. The FY 2015revenues that are reflected in the budget. The FY 2015--16 budget is projected to raise more property 16 budget is projected to raise more property tax revenues than in FY 2014tax revenues than in FY 2014--15; therefore, the Council is required to take a separate vote to ratify the 15; therefore, the Council is required to take a separate vote to ratify the property tax revenue increase. The projected increase in revenues from property taxes is reflected in property tax revenue increase. The projected increase in revenues from property taxes is reflected in the budget, as presented.the budget, as presented. The budget for FY 2015The budget for FY 2015The budget for FY 2015The budget for FY 2015----16 includes projected revenues from property taxes that are greater than the 16 includes projected revenues from property taxes that are greater than the 16 includes projected revenues from property taxes that are greater than the 16 includes projected revenues from property taxes that are greater than the revenues from property taxes in the FY 2014revenues from property taxes in the FY 2014--15 budget by $1,209,600.00 and of that amount 15 budget by $1,209,600.00 and of that amount $167,401.27 is tax revenue to be raised from new property added to the tax roll this year. $167,401.27 is tax revenue to be raised from new property added to the tax roll this year. Action Required of Council:Action Required of Council: Consider approval or other action to ratify the property tax revenue increase for FY 2015Consider approval or other action to ratify the property tax revenue increase for FY 2015--16.16. Approved for City Council AgendaApproved for City Council Agenda Corby D. Alexander, City ManagerCorby D. Alexander, City ManagerDateDate