The proposed FY2010 budget has now been reviewed and recommended by three Advisory Committees -- Employee Benefits, Finance, and Property/Casualty/Liability Insurance. The Capital Projects Review Committee also reviewed the proposed FY2010 capital budget, which is funded primarily by the operating budget, and will meet again October 15 to finalize its recommendation.
The City Council has held two public hearings on the proposed tax rate and budget (August 18 and September 1), and staff has published the required notices in the local newspaper, cable TV access channel, and City Web site. Adoption of the budget occurs by ordinance, as does the property tax rate and City pay plan. Adoption of new or modified fees occurs by resolution.
REQUIREMENTS FROM HB3195
During 2007 the Texas Legislature approved House Bill 3195. This law requires that budgets raising more revenue from property taxes than in the previous year must include a cover page with the following statement in 18-point or larger type:
“This budget will raise more total property taxes than last year’s budget by $X, and of that amount, $Y is tax revenue to be raised from new property added to the tax roll this year.”
Additionally, the law requires a separate vote of the governing body to ratify the property tax increase included in the budget. This separate vote is in addition to the vote to adopt the budget or the vote to set the tax rate.