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Brentwood City Commission Agenda

Meeting Date:	06/26/2017
Ordinance 2017-12 - An Ordinance to Adopt the Property Tax Rate for Fiscal Year 2017-2018
Submitted by:	Richard Parker, Finance
Department:	Finance

Information

Subject

Ordinance 2017-12 - An Ordinance to Adopt the Property Tax Rate for the Fiscal Year Beginning July 1, 2017 and Ending June 30, 2018

Background

The accompanying ordinance provides for the adoption of the tax rate to fund the FY 2017-2018 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 twenty-seventh (27th) year in a row.

Formal public hearings regarding the proposed tax rate were previously held on May 22, 2017 and June 13, 2017. No public comments were received at either of these hearings.

Please contact the Finance Director if you have any questions.

Staff Recommendation

The staff recommends approval of Ordinance 2017-12 on second and final 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 :	11,510,000
Source of Funds:
Account Number:

Fiscal Impact:

The proposed FY 2018 budget projects total real and personal property tax revenue of $11,510,000.

Attachments
Ordinance 2017-12
Signed Ordinance