Resolution 2015-17 RESOLUTION NO. 2015-17(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, ACCEPTING THE PROPOSED PROPERTY TAX
RATE FOR FISCAL YEAR 2015-2016; 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$0.8689 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
$0.8689 per$100 valuation as the proposed property tax rate for fiscal year 2015-2016.
SECTION 2. The City Council of the City of Wylie, Texas, met in a public meeting on
August 11, 2015, and accepted this resolution with a majority vote.
SECTION 3. Public hearings shall be held on August 25, 2015, and September 1, 2015, 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.
DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, on
this the 11th day of August 2015.
Eric Hogue, Ma
AT
Carole Ehrlich, ty Secretary ®j
41
Resolution No.2015-17(R) '- atiria ' _a
Proposed Property Tax Rate FY2015-16
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PROPERTY TAX DISTRIBUTION CALCULATIONS
FY2015-16 FY2014-15
Tax Year 2015 Tax Year 2014
TAX ROLL:
Assessed Valuation (100%) $2,921,053,864 $ 2,618,781,455
Rate per$100 0.868900 0.878900
Tax Levy Freeze Adjusted 25,381,037 23,016,471
Tax Levy- Frozen (Disabled/Over 65)* 1,288,090 1,161,841
Total Tax Levy 26,669,127 24,178,312
Percent of Collection 100% 100%
Estimated Current Tax Collections $ 26,669,127 $ 24,178,312
SUMMARY OF TAX COLLECTIONS:
Current Tax $ 25,381,037 $ 23,016,471
Revenue From Tax Freeze Property 1,288,090 1,161,841
Delinquent Tax 195,000 135,000
Penalty and Interest
TOTAL TAX COLLECTIONS $ 26,864,127 $ 24,313,312
FY2015-16
FY2015-16 PERCENT FY2015-16 FY2014-15
TAX RATE OF TOTAL AMOUNT AMOUNT
GENERAL FUND:
Current Tax $ 0.611583 $ 17,864,669 $ 15,659,737
Revenue From Tax Freeze Property 906,687 790,517
Delinquent Tax 130,000 90,000
Penalty and Interest
Total General Fund $ 0.611583 70.39% $ 18,901,356 $ 16,540,254
DEBT SERVICE FUND:
Current Tax $ 0.257317 $ 7,516,368 $ 7,356,733
Revenue From Tax Freeze Property 381,403 371,325
Delinquent Tax 65,000 45,000
Penalty and Interest
Total Debt Service $ 0.257317 29.61% $ 7,962,771 $ 7,773,058
DISTRIBUTION $ 0.868900 100.00% $ 26,864,127 $ 24,313,312