Title
Conduct a public hearing to receive input from citizens regarding the proposed Fiscal Year 2019-20 budget.
Body
This is a State-law-mandated public hearing on the proposed Fiscal Year 2019-20 budget that must be held before the date that the tax rate is adopted, since a city must levy taxes only in accordance with its budget. The City Council held two previous public hearings on August 5, 2019, and August 19, 2019.
In accordance with State law, the City Council must take action on the budget at the conclusion of this public hearing, either to vote separately to adopt the budget and also vote to “ratify” the increase in property tax revenue, or vote to postpone adoption of the budget and vote to postpone ratification of the increase in property tax revenue until the September 16, 2019, City Council meeting.
State law requires a separate vote to ratify any increase in property tax revenue as reflected in the budget. Next year’s proposed budget estimates an increase of $4,232,870 (7.72 percent) in property tax revenue and thus requires a separate vote to ratify the increase in property tax revenue. This vote to ratify the property tax revenue increase is separate and apart from any vote to adopt the budget or vote to adopt the tax rate. The vote to adopt the tax rate (tax levy) is scheduled for the September 16, 2019, City Council meeting.
The City Council is not obligated to adopt the budget or ratify the property tax revenue increase at this meeting. If the Council chooses to postpone these items, then there will be three separate votes required at the September 16, 2019, Council meeting; first to adopt the budget, second to ratify the increase in property tax revenue reflected in the budget and then third to adopt the tax rate.
Drafter
Myra Rogers
Head of Department
Debbie Mol