Members of the Gainesville City Council are to discuss the city’s proposed tax rate for fiscal year 2020-2021 on Tuesday evening, Aug. 4.
City Manager Barry Sullivan would not provide a proposed tax rate to the Register when asked Friday, July 31, and said members of the city council will set the proposed tax rate at Tuesday’s meeting scheduled for 6:30 p.m. inside the Municipal Building, 200 S. Rusk St.
A request to executive secretary Melinda Medford for a council packet — information provided to council members to review before their meetings — was deferred until next week. However, Ward 5 Councilman Tommy Moore said Friday afternoon he had not yet received a council packet for Tuesday’s meeting. He said “we are waiting on the proposed tax rates to be announced by the appraisal district.”
Ward 6 Councilwoman Mary Jo Dollar also confirmed the packet had been delayed.
Last September, council members unanimously approved the 2019-2020 property tax rate of 70 cents per $100 of assessed property value, a penny more than the effective rate of 69 cents.
The effective rate is the tax rate needed to bring in the same tax revenue as the previous year.
The current tax rate includes 48 cents for the general fund and 22 cents for the interest and sinking fund, used to pay off bond debt.
While the 2019-2020 property tax rate was less than the 72 cents per $100 assessed value levied in 2018-2019, it was projected to bring in more revenues due to rising property values, according to a previous Register report.
According to a council meeting agenda released Friday, council members will also consider setting a public hearing date for the proposed tax rate for Sept. 15 and setting a public hearing for the 2020-2021 proposed budget for that same day.
Sullivan would not provide a copy of the working budget Friday. He said the budget is not ready to be released “at this time” and that he will be submitting it to the city secretary Aug. 14.
Last year, city officials budgeted a beginning balance of $43.1 million, with revenues expected to be $37.3 million and expenditures budgeted at $39.7 million for 2019-2020, including expenses from assigned project funds, according to an archived Register report.
The city’s fiscal year begins Oct. 1.