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Brentwood City Commission Agenda

Meeting Date:	06/25/2018
Ordinance 2018-08 - An Ordinance to Adopt the Property Tax Rate for Fiscal Year 2018-2019
Submitted by:	Richard Parker, Finance
Department:	Finance

Information

Subject

Ordinance 2018-08 - An Ordinance to Adopt the Property Tax Rate for the Fiscal Year Beginning July 1, 2018 and Ending June 30, 2019.

Background

The accompanying ordinance provides for the adoption on first reading of the tax rate to fund the FY 2018-2019 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 28th year in a row.

Formal public hearings regarding the proposed tax rate were previously held on May 29, 2018 and June 12, 2018. 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 2018-08 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 :	$11,850,000
Source of Funds:
Account Number:

Fiscal Impact:

The proposed FY 2019 budget projects total real and personal property tax revenue of $11,850,000.

Attachments
Ordinance 2018-08
Signed Ordinance