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Brentwood City Commission Agenda

Meeting Date:	05/26/2020
Ordinance 2020-04 - An Ordinance to Adopt the Property Tax Rate for Fiscal Year 2020-2021
Submitted by:	Karen Harper, Finance
Department:	Finance

Information

Subject

Ordinance 2020-04 - An Ordinance to Adopt the Property Tax Rate for the Fiscal Year Beginning July 1, 2020 and Ending June 30, 2021.

Background

The accompanying ordinance provides for the adoption on first reading of the tax rate to fund the FY 2020-2021 proposed General Fund budget. The proposed tax rate is $0.36 per $100 of assessed value of taxable property. This levy represents the same effective property tax rate for the City of Brentwood for the 30th year in a row.

If approved, please note that final reading of Ordinance 2020-04 will not occur until the Monday, June 22, 2020 meeting. Formal public hearings are scheduled at three City Commission meetings set for Tuesday, May 26, 2020, Monday, June 8, 2020, and Monday, June 22, 2020.

Please contact the Finance Director if you have any questions.

Staff Recommendation

The staff recommends approval of Ordinance 2020-04 on first reading.

Previous Commission Action

Section 6-22-107(b) of the City Charter requires the Board of Commissioners to establish annually a tax levy sufficient to fund the approved appropriations for the General Fund budget in the new fiscal year.

Fiscal Impact

Amount :
Source of Funds:
Account Number:

Fiscal Impact:

The budgeted amount for both real and personal property taxes for FY 2021 is $12,310,000.

Attachments
Ordinance 2020-04