Resolution 2014-19RESOLUTION NO. 2014-19(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, ACCEPTING THE PROPOSED PROPERTY TAX
RATE FOR FISCAL YEAR 2014 -2015; ACCEPTING THE
CALCULATION OF THE EFFECTIVE TAX RATE;
ESTABLISHING DATES FOR PUBLIC HEARINGS ON THE
PROPOSED PROPERTY TAX RATE; AND PROVIDING FOR THE
PUBLICATION AS PROVIDED BY THE TEXAS LOCAL
GOVERNMENT CODE, SECTION 140.010.
WHEREAS, the City of Wylie has received the calculated effective tax rate as presented
by the Collin County Tax Assessor /Collector's Office; and
WHEREAS, the proposed tax rate exceeds the effective tax rate and the Statute requires
two public hearings in order to allow the City Council to consider acceptance and adoption of an
ordinance levying a proposed rate of $0.8789 per $100 valuation; and
WHEREAS, the Texas Local Government Code, as amended by adding Section 140.010,
provides the specific procedures in which to consider the proposed tax rate;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WYLIE, TEXAS:
SECTION 1. The City Council of the City of Wylie, Texas, does hereby accept the rate of
$0.8789 per $100 valuation as the proposed property tax rate for fiscal year 2014 -2015.
SECTION 2. The City Council of the City of Wylie, Texas, met in a public meeting on
August 12, 2014, and accepted this resolution with a majority vote.
SECTION 3. Public hearings shall be held on August 26, 2014, and September 2, 2014, at
6:00 p.m. in the City Council Chambers at the Wylie Municipal Complex, 300 Country Club
Road, Wylie, Texas, to receive public comment regarding the proposed tax rate.
SECTION 4. The content of this resolution shall be published in the official newspaper
of the City as provided by the Texas Local Government Code.
DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, on
this the 12th day of August 2014.
Eri
7
Carole Ehrlich, ity Secretary
Resolution No. 2014 -19(R)
Proposed Property Tax Rate FY2014 -15
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PROPERTY TAX DISTRIBUTION CALCULATIONS
FY2014 -15 FY2013 -14
Tax Year 2014 Tax Year 2013
TAX ROLL:
Assessed Valuation (100 %) $ 2,618,781,455
Rate per $100 0.878900
Tax Levy Freeze Adjusted 23,016,471
Tax Levy - Frozen (Disabled / Over 65)* 1,161,841
$ 2,416,825,532
0.883900
21,362,321
1,004,327
Total Tax Levy 24,178,312 22,366,648
Percent of Collection 100% 100%
Estimated Current Tax Collections $ 24,178,312 $ 22,366,648
SUMMARY OF TAX COLLECTIONS:
Current Tax $ 23,016,471 $ 21,362,321
Revenue From Tax Freeze Property 1,161,841 1,004,327
Delinquent Tax 135,000 135,000
Penalty and Interest
TOTAL TAX COLLECTIONS $ 24,313,312 $ 22,501,648
FY2014 -15
FY2014 -15 PERCENT FY2014 -15 FY2013 -14
TAX RATE OF TOTAL AMOUNT AMOUNT
GENERAL FUND:
Current Tax $ 0.597978 $ 15,659,737 $ 14,339,364
Revenue From Tax Freeze Property 790,517 674,104
Delinquent Tax 90,000 90,000
Penalty and Interest
Total General Fund $ 0.597978 68.04% $ 16,540,254 $ 15,103,468
DEBT SERVICE FUND:
Current Tax $ 0.280922 $ 7,356,733 $ 7,022,957
Revenue From Tax Freeze Property 371,325 330,223
Delinquent Tax 45,000 45,000
Penalty and Interest
Total Debt Service $ 0.280922 31.96% $ 7,773,058 $ 7,398,180
DISTRIBUTION $ 0.878900 100.00% $ 24,313,312 $ 22,501,648