Item Coversheet
 CITY OF PLANO
COUNCIL AGENDA ITEM
Council Meeting Date:  9/11/2017

Department:  Budget

Department Head: Karen Rhodes-Whitley

Agenda Coordinator:  Casey Srader, x5152

CAPTION


Ordinance No. 2017-9-8: To approve and adopt the Tax Rate for the fiscal year beginning October 1, 2017 and terminating September 30, 2018, and providing an effective date.  (Public Hearings held August 28, 2017 and September 5, 2017.) Adopted

FINANCIAL SUMMARY

 

Not Applicable
FISCAL YEAR: 2017-18       Prior Year
(CIP Only)

Current

Year

Future

Years

 TOTALS
Budget  0  0 0 0
Encumbered/Expended Amount  0 0 0 0
This Item  0 0  0 0
Balance   0 0  0  0



FUND(S):  N/A


 

COMMENTS:  This item has no fiscal impact.

SUMMARY OF ITEM


This Ordinance sets the ad valorem tax rate for 2017-18 at $.4686 cents per $100 assessed valuation, to be distributed as follows:

 

                         $.3500 for Operation & Maintenance

                         $.1186 for General Obligation Debt

                         _____________________________

                         $.4686 Total Tax Rate

 

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 6.18 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $18.64.



Strategic Plan Goal:

Financially Strong City with Service Excellence

Plano Tomorrow Plan Pillar:

 

ATTACHMENTS:
DescriptionUpload DateType
2017-18 Property Tax Rate Adoption Ordinance8/30/2017Ordinance