Subject:
Title
Public hearing regarding the real estate tax rate for Fiscal Year 2021-2022 proposed to increase by $0.04 per $100 of assessed value to $0.90 per $100 of assessed value
Body
Presented By: City Staff
Recommendation and Review
At the May 11, 2021 City Council meeting, City Council approved a real estate tax rate of $0.86 per $100 of assessed value but also instructed staff to advertise for the next City Council meeting a new public hearing to increase the real estate tax rate by $0.04 per $100 of assessed value. The advertised proposed rate is a not-to-exceed rate. City Council may approve a rate lower but not higher than the $0.90 per $100 of assessed value.