Buda City Council Holding Final Public Hearing On Property Tax Rate, Receive Presentation Of Proposed Buda Hotel & Conference Center

Buda City Council holding final Public Hearing on Ad Valorem/Property Tax Rate, and receive a presentation of proposed Buda Hotel & Conference Center

H. PUBLIC HEARINGS

H.1. Hold a public hearing on the proposed Fiscal Year 2017-2018 Budget (Finance Director June Ellis)

Notice Of Public Hearing.pdf

H.2. Hold a public hearing on the proposed Fiscal Year 2017-2018 Tax Rate (Finance Director June Ellis)

Notice of 2017 Property Tax Rate.pdf

• A tax rate of $0.3673 per $100 valuation has been proposed for adoption by the governing body of City of Buda. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate. The governing body of City of Buda proposes to use revenue attributable to the tax rate increase for the purpose of providing general operations to the opening of the new municipal facilities.

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for City of Buda from the same properties in both the 2016 tax year and the 2017 tax year.

• PROPOSED TAX RATE $0.3673 per $100

• PRECEDING YEAR’S TAX RATE $0.3704 per $100

• EFFECTIVE TAX RATE $0.3561 per $100

• ROLLBACK TAX RATE $0.3757 per $100

I. PRESENTATIONS

I.1. Presentation of Proposed Buda Hotel & Conference Center Market Study and Economic Impact Analysis Reports (EDC Director Ann Miller)

Final Economic Impact Analysis

Final Report

J. REGULAR AGENDA

J.1. Discussion and  possible  action  approving  the  Fiscal  Year  2017-2018  Buda  Economic  Development Corporation (EDC) Budget (EDC Director Ann Miller)

Budget FY 2017-18.pdf

Budget Narrative FY 17-18.pdf

Buda City Council Regular Meeting Agenda – Tuesday, September 5, 2017 at 6 PM