Res 043-2007 3/20/2007 RESOLUTION NO. �7"�" d�
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, EXPRESSING OPPOSITION TO LEGISLATIVE
EFFORTS TO AMEND CURRENT LAWS AND REGULATIONS
GOVERNING APPRAISAL AND REVENUE CAPS; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION
WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, cities in Texas receive very little state funding when compared to
other states in the nation; and
WHEREAS, Texas cities rely increasingly upon property taxes as a major
component of their revenue required to cover the cost of providing required municipal
services; and
WHEREAS, appraisal caps have been proven in other states where
implemented to: (1) ignore the cost of City services, (2) unfairly shift the tax burden from
wealthy to less wealthy homeowners because caps most benefit properties that are
rapidly increasing in value, (3) unfairly shift the tax burden from residential to business
taxpayers where they apply only to residential property, (4) create inequities between
neighbors, (5) depress real estate markets, and (6) hinder economic development by
preventing property value increases impacting property tax abatement arrangements
ultimately resulting in lost revenue opportunities for cities; and
WHEREAS, revenue caps: (1) ignore the cost of city services, (2) ignore the
differing growth rates in different areas of the state, (3) stifle economic development by
imposing arbitrary limits on revenues that might be realized from the addition of new
business and residential development, (4) do not account for unfunded mandates, and
(5) may be harmful to city bond ratings due to the imposition of limits on the ability of
cities to repay debt.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City of Wichita Falls opposes any legislation that seeks to
amend and reduce the currently applicable appraisal cap below its current level of ten
percent, or seeks to establish local revenue caps.
SECTION 2. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 20th day of March, 2007.
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MAYOR
ATTEST:
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