HomeMy WebLinkAboutCity Council-Agenda Packets-Special Meeting-8/25/2015City of Colleyville Page 1
City of Colleyville
City Council
Special Meeting Agenda
City Hall
100 Main Street
Colleyville, Texas
76034
817.503.1000
www.colleyville.com
Tuesday, August 25, 2015 Third Floor, City Hall
EXECUTIVE SESSION
5:30 P.M.
EXECUTIVE CONFERENCE ROOM
1. CALL TO ORDER
2. EXECUTIVE SESSION – In accordance with Texas Government Code,
Chapter 551, Subchapter D
Section 551.072 – Real Estate – Deliberate the purchase, exchange, lease,
or value of real property for City facilities
Section 551.074 - Personnel - Deliberate the appointment, employment,
evaluation, and duties of the city manager
SPECIAL MEETING
6:00 P.M.
CITY COUNCIL CHAMBERS
3. PUBLIC HEARING
3a Discussion of the proposed FY 2016 tax rate of $.3559 per hundred
dollars of valuation
4. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August
21, 2015, by 5:00 p.m.
Amy Shelley, TRMC
City Secretary
Any matter on this agenda may, at the discretion of the governing body, be
opened for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the City Secretary at least 48 hours in advance at
817.503.1133, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
City of Colleyville
City Council
Special Meeting
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 3a Agenda Date 08/25/2015 Number
Type Public Hearing Agenda Items
Department City Manager
Title
Discussion of the proposed FY 2016 tax rate of $.3559 per hundred dollars of
valuation
Strategy Map Connection
B4- Cultivate a culture of transparency and consistent communication
F4- Adhere to the City’s financial and budgetary policies
Explanation
Public Hearing
Chapter 26, Texas Property Tax Code, requires taxing units to comply with
"Truth-in-Taxation" laws in setting tax rates. The calculated Fiscal Year 2016 (FY
2016) effective tax rate is $.350960. As the current and proposed rate of $.3559
is higher than the effective tax rate of $.350960, legislation requires that a city
take several actions in order to be in compliance with Chapter 26 of the Texas
Property Tax Code. The City must publish the attached "Notice of 2015 Tax Year
Proposed Property Tax Rate for the City of Colleyville". This notice was
published in the Fort Worth Star-Telegram on Thursday, August 13, 2015. The
City must also hold two public hearings on the tax rate. This is the first of the
two public hearings, where citizens have an opportunity to address the City
Council on the proposed tax rate. The second public hearing will be held
on Tuesday, September 1, 2015 at 7:30 p.m., at 100 Main Street, Colleyville,
Texas, during the regular City Council meeting. The tax rate is scheduled for
adoption at the September 15, 2015 regular City Council meeting.
The FY 2016 proposed tax rate remains at $.3559 per hundred dollars of
valuation for the ninth consecutive year. The average residential value for FY
2015 was $421,497, and the average residential value for FY 2016 is $423,650.
This equates to an average annual property tax increase of $7.66 to support City
services. If the taxable valuation for a residence did not increase from FY 2015,
there is no corresponding increase in taxes paid, as there is no proposed tax rate
increase in FY 2016.
As a point of reference, the effective tax rate calculation sets the interest and
sinking rate (Debt Service Fund rate) at $.01966. The remainder of the tax rate
of $.33624 will be allocated to operations and maintenance (General Fund rate).
The ordinance adopting the FY 2016 tax rate will reflect these rates, as required
by the effective tax rate calculation.
City Council Agenda Briefing 3a
City of Colleyville Page 2
Attachments
1.Notice of 2015 Tax Year Proposed Property Tax Rate for the City of
Colleyville
NOTICE OF 2015 TAX YEAR PROPOSED
PROPERTY TAX RATE FOR CITY OF
COLLEYVILLE
A tax rate of $0.355900 per $100 valuation has been proposed for adoption by the governing body of
City of Colleyville. This rate exceeds the lower of the effective or rollback tax rate, and state law
requires that two public hearings be held by the governing body before adopting the proposed tax
rate.
PROPOSED TAX RATE $0.355900 per $100
PRECEDING YEAR'S TAX RATE $0.355900 per $100
EFFECTIVE TAX RATE $0.350960 per $100
ROLLBACK TAX RATE $0.376023 per $100
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for
City of Colleyville from the same properties in both the 2014 tax year and the 2015 tax year.
The rollback tax rate is the highest tax rate that City of Colleyville may adopt before voters are
entitled to petition for an election to limit the rate that may be approved to the rollback rate.
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS
FOLLOWS:
property tax amount= (rate) x (taxable value of your property)/100
For assistance or detailed information about tax calculations, please contact:
Colette Ballinger
City of Colleyville Tax Assessor-Collector
100 Main Street, Colleyville, TX 76034
817-481-1242
colette.ballinger@gcisd.net
www.colleyville.com
You are urged to attend and express your views at the following public hearings on the proposed tax
rate:
First Hearing: August 25, 2015 at 6:00 PM at City Hall, 100 Main Street, Colleyville, Texas 76034.
Second Hearing: September 1, 2015 at 7:30 PM at City Hall, 100 Main Street, Colleyville, Texas
76034.