Res 2851 9/15/1981RESOLUTION NO. 2851
RESOLUTION CALLING A PUBLIC HEARING AS
REQUIRED BY THE TRUTH IN TAXATION ACT
ASSOCIATED WITH REVISIONS TO THE CITY 'S
EFFECTIVE TAX RATE.
WHEREAS , the Truth in Taxation Act adopted by the
Legislature in its Second Called Session in 1978 requires
a public hearing in the event that the proposed tax rate for
the current year exceeds by more than 3% the effective tax
rate for the preceding year; and,
WHEREAS, the effective tax rate, in general , is that tax
rate which would have produced the total tax revenue assessed
the previous year if it were applied to the total taxable value
assessed in the current year on the properties which were taxed
in the preceding year; and,
WHEREAS, the effective tax rate for 1980 is calculated
to be $ . 71 per $100 valuation (although the actual tax rate
levied was $ . 75) , and the Board of Aldermen proposes to adopt
a tax rate for 1981 of $ . 75 per $100 valuation which exceeds
the effective rate by more than 3%.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS , TEXAS , THAT:
Public notice shall be given of the intention of the
Board of Aldermen to adopt a higher tax rate than the effective
71 tax rate of last year, and a public hearing on such proposed
increase shall be held on September 25 , 1981, at 5: 00 o'clock
P.M. in the Council Room of Memorial Auditorium Building, at
which hearing proponents and opponents of the tax increase
will be afforded adequate opportunity to present their views.
The City Clerk shall publish in a newspaper, not less
than 7 days before such public hearing, a notice of the public
hearing in the form required by the Truth in Taxation Act.
PASSED AND APPROVED this 15th day of September, 1981.
M A Y O R
ATTEST:
City Cler