Title
Ordinance - Consideration and Approval of an Ordinance on the Tax Rate, Levying the Ad Valorem Taxes for the Fiscal Year 2022 at a Rate of $0.69000 per One Hundred Dollars ($100.00) Assessed Valuation on all Taxable Property Within the Corporate Limits of the City as of January 1, 2021, to Provide Revenues for the Payment of Current Expenditures and to Provide an Interest and Sinking Fund on all Outstanding Debts of the City, and Providing for Due and Delinquent Dates Together with Penalties and Interest
Requested Action
Vote to Adopt the Tax Rate Ordinance for FY2022, setting the proposed tax rate at $0.69000.
Recommendation
Adopt the Ordinance setting the tax rate at $0.69 for fiscal year 2022.
Description/History
Staff announced a proposed tax rate of $0.69000 to support the budget for Fiscal Year 2022 during a public hearing held on August 23, 2021. The proposed rate represents no increase to the current tax rate, and the proposed tax rate is lower than the Voter Approval Tax Rate; therefore, the City is not required to hold an election to seek voter approval of the tax rate.
The $0.69000 tax rate is comprised of $0.224999 for Debt and $0.465001 for Operations and Maintenance.
Justification
Provide the annual service program for the City of Mansfield, Texas for Fiscal Year 2022.
Funding Source
Citizens of Mansfield
Prepared By
Troy Lestina, Chief Financial Officer
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