Members of the Gainesville City Council are expected to vote tonight on a proposed tax rate for the 2021-2022 fiscal year.
City Manager Barry Sullivan said the rate proposed to council members today, Tuesday, Aug. 3, will be lower than the current approved rate but higher than the no-new-revenue tax rate.
Last year, council members unanimously approved the city’s 2020-2021 tax rate of $0.6875 per $100 assessed property valuation.
That tax rate was the no-new-revenue rate which was previously known as the effective rate — the tax rate needed to bring in the same tax revenue as the previous year.
Information provided to council members shows the suggested proposed tax rate for the 2021-2022 fiscal year to be $0.67210 per $100 of property value.
The proposed rate is used for required public notices. City council does not have to adopt the proposed rate as the city's new tax rate. However, council members cannot adopt a rate higher than the proposed rate.
Council members are also scheduled to take action to plan public hearings for the proposed tax rate and the city’s proposed 2021-2022 budget, according to the council’s meeting agenda.
There was no information about the city’s budget provided in the packet council members receive before the meeting.
The city’s fiscal year begins Oct. 1.
City council meets at 6:30 p.m. at the Municipal Building, 200 S. Rusk St.