Title
Ordinance - Third and Final Reading of an Ordinance of the City Council of the City of Mansfield, Texas Changing the Fiscal Year of South Pointe Improvement District
Requested Action
Approve the ordinance amending the Fiscal Year of the South Pointe Public Improvement District to match the Fiscal Tax Year of the City of Mansfield, Texas.
Recommendation
Staff recommends that the City Council of the City of Mansfield, Texas approve the ordinance amending the Fiscal Year of the South Pointe Public Improvement District to match the Fiscal Tax Year of the City of Mansfield, Texas.
Description/History
In January 2016, the City Council of the City of Mansfield, Texas received a petition requesting creation of a public improvement district under Chapter 372 of the Texas Local Government Code from the owners of real property representing more than fifty percent (50%) of the appraised value of the real property liable for assessment in the proposed District. The ordinance authorizing and creating the South Pointe Public Improvement District was approved on February 22, 2016.
The South Pointe Public Improvement District is approximately 873 acres. The public improvement district is to provide services that enhance the lifestyle, personal pride, enjoyment and property values within the District. An annual assessment of $1,000 for a single family home within the District and $120 for each multifamily unit within the District shall be levied. These assessments will be collected through the same systems used to collect ad valorem property tax.
Justification
Currently, the fiscal year of the South Pointe Improvement District is from March 1st to February 28th every year. This amendment to the ordinance will change the fiscal year to match the fiscal year of the City of Mansfield from October 1st to September 30th every year. This change will align the South Pointe Public Improvement District accounting and reporting with the City of Mansfield, Texas.
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