Resolution 2008-31 RESOLUTION NO. 2008-31(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, ACCEPTING THE PROPOSED PROPERTY TAX
RATE FOR FISCAL YEAR 2008-2009; ACCEPTING THE
CALCULATION OF AN EFFECTIVE TAX RATE; ESTABLISHING
DATES FOR PUBLIC HEARINGS ON THE PROPOSED
PROPERTY TAX RATE; AND PROVIDING FOR THE
PUBLICAITON AS PROVIDED BY THE TEXAS PROPERTY TAX
CODE.
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 t~ rate exceeds the effective tax rate and the Statute requires
two public hearing in order to entitle the City Council to consider acceptance and adoption of an
ordinance levying a proposed tax rate of $0.8989 per $100 valuation; and
WHEREAS, the Texas Property Tax Code Chapter 26, as heretofore amended, 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
$0.8989 per $100 valuation as the proposed property tax rate for fiscal year 2008-2009.
SECTION 2. The City Council of the City of Wylie, Texas, met in a public meeting on
August 12, 2008, and accepted this resolution with a majority vote as follows:
Mayor Eric Hogue YEA X NAY ABSTAIN ABSENT
Mayor Pro Tem Red Byboth YEA NAY ABSTAIN ABSENT X
Councilmember Kathy Spillyards YEA X NAY ABSTAIN ABSENT
Councilmember Richard White YEA X NAY ABSTAIN ABSENT
Councilmember Merrill Young YEA X NAY ABSTAIN ABSENT
Councilmember David Goss YEA NAY X ABSTAIN ABSENT
Councilmember Carter Porter YEA X NAY ABSTAIN ABSENT
SECTION 3. Public hearings shall be held on August 21, 2008 and August 26, 2008, at
6:00 p.m. in the City Council Chambers at the Wylie Municipal Complex, 2000 Highway 78
North, Wylie, Texas, to receive public comment regarding the proposed tax rate.
SECTION 4. The content and vote taken on this resolution shall be published in the
official newspaper of the City as provided by the Texas Property T~ Code.
Resolution No. 2008-31(R)
Proposed Property Tax Rate FY2008-09
DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, on
this the 12th day of August 2008.
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,*~.>~~t ~ '~ic Hogue, Y
ATTEST:
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Resolution No. 2008-31(R)
Proposed Property Tax Rate FY2008-09
~t PROPERTY TAX DISTRIBUTION CALCULATIONS
FY2008-09 FY2007-08
Tax Year 2008 Tax Year 2007
TAX ROLL:
Assessed Valuation (100%) $2,184,286,248 $2,024,768,993
Rate per $100 0.89890 0.73325
Tax Levy Freeze Adjusted 19,634,549 14,846,619
T~ Levy - Frozen (Disabled/ over 65)* 491,418 415,550
Total Ta~c Levy 20,125,967 15,262,169
Percent of Collection 100% 100%
Estimated Current Tax Collections $ 20,125,967 $ 15,262,169
SUMMARY OF TAX COLLECTIONS:
Current Ta~c $ 20,125,967 $ 14,846,536
Revenue From Tax Freeze Property 491,418 415,550
Delinquent Tax 342,141 252,404
Penalty and Interest
TOTAL TAX COLLECTIONS $ 20,959,526 $ 15,514,490
DISTRIBUTION:
FY2008-09
FY2008-09 PERCENT FY2008-09 FY2007-08
TAX RATE OF TOTAL AMOUNT AMOUNT
GENERAL FUND:
Current Tax $ 0.56195 $ 12,581,808 $ 11,378,106
Revenue From Tax Freeze Property 307,211 318,470
Delinquent Tax 213,890 193,438
Penalty and Interest
Total General Fund $ 0.5620 62.515% $ 13,102,910 $ 11,890,014
DEBT SERVICE FUND:
Current Taac $ 0.33695 $ 7,544,159 $ 3,468,429
Revenues From Tax Freeze Property 184,207 97,081
Delinquent T~ 128,251 58,967
Penalty and Interest
Total Debt Service $ 0.33695 37.485% $ 7,856,616 $ 3,624,477
DISTRIBUTION $ 0.8989 100.000% $ 20,959,526 $ 15,514,491