08-07-2001 (City Council) Agenda Packet NOTICE OF MEETING
WYLIE CITY COUNCIL AGENDA
Tuesday, August 7, 2001
6:00 p.m.
Wylie Municipal Complex—Council Chambers/Council Conference Room
2000 State Highway 78 North
Wylie,Texas 75098 Action Taken
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1. Consider and Act Upon Accepting the proposed Ad Valorem Tax Rate and Calculation of an
Effective Tax Rate for Fiscal Year 2001-2002.
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In addition to any specifically identified Executive Sessions, Council may convene into Executive
Session at any point during the open meeting to discuss any item posted on this agenda. The Open
Meetings Act provides specific exceptions that require that a meeting be open. Should Council elect to
convene into Executive Session, those exceptions will be specifically identified and announced. Any
subsequent action,as a result of this Executive Session,will be taken and recorded in open session.
I certify that this Notice of Meeting was posted on this`3 day of
2001 at 5:00
p.m.as required by law in accordance with Section 551.042 of the Texas ent Code and that th
appropriate news media contacted. This agenda is also posted to the Ci of Wylie Website a
www.ci.wvlie.tx.us
#4.01d.)
ecr Date Notice Removed
The Wylie Municipal Complex is Wheelchair accessible. Sign interpretation or other special assistance for disabled attendees
must be requested 48 hours in advance by contacting the City Secretary's office at 972/442-8100 or TD 972/442-8170.
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WYLIE CITY COUNCIL
AGENDA ITEM NO.
August 7, 2001
Issue
Consider and Act Upon Accepting the proposed Ad Valorem Tax Rate and Calculation of an Effective
Tax Rate for Fiscal Year 2001-2002.
Background
In accordance with the "Truth in Taxation" laws of the State of Texas, notices must be published and
a public hearing must be held if an entity's proposed tax rate exceeds 103 percent of the effective tax
rate. Therefore, the City is required to vote on the proposed tax rate and publish the results of the roll
call vote at least seven (7) days prior to the first scheduled public hearing on August 28t. The purpose
of the first public hearing is to give the taxpayers an opportunity to express their views on the increase.
The Council may not adopt the tax rate at this hearing. Instead, at the end of the hearing, it must set
and announce the date, time and place of the meeting at which it will note on the final proposed tax rate.
The second public hearing on September 11`h to vote on the tax rate must take place no less than three
(3) days and no more than fourteen (14) days after the first public hearing.
The official detailed effective tax rate calculation is available in the office of the Collin County Tax
Assessor/Collector (Kenneth L. Maun) in McKinney. A copy is also maintained in the Finance
Department for the Council and public to view.
Financial Considerations
The proposed budget is based on the proposed tax rate of$0.72 per $100 valuation. This is the rate
previously discussed by the Council. Any change in the proposed rate will require revision of the
proposed budget.
Other Considerations
The City is required by law to follow certain meeting and notice (publication) guidelines as shown on
the attached calendar excerpt from the "Truth in Taxation" guide.
Staff Recommendation
It is recommended that the City Council approve the proposed tax rate and schedule the next required
public hearing on the tax rate for August 28, 2001.
Attachments
Resolution Reporting Record Vote
2001 Planning Calendar from the "Truth in Taxation" guide
2001 Property Tax Rates in the City of Wylie and Effective Tax Rate Calculation
Prepared by Revie by Finance City Man er Approval
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE,
TEXAS, ACCEPTING THE PROPOSED PROPERTY TAX RATE FOR
FISCAL YEAR 2001-2002; ACCEPTING THE CALCULATION OF AN
EFFECTIVE TAX RATE; ESTABLISHING A DATE FOR PUBLIC
HEARING 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 tax rate exceeds 103 percent of the effective tax rate and the Statute
requires an additional public hearing in order to entitle the City Council to consider acceptance
and adoption of an ordinance levying a proposed tax rate of$0.72 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$0.72
per$100 valuation as the proposed property tax rate for fiscal year 2001-2002.
SECTION 2. The City Council of the City of Wylie, Texas, met in a public meeting on August
7, 2000, and accepted this resolution with a majority vote as follows:
Mayor John Mondy YEA NAY ABSTAIN ABSENT
Mayor Pro Tern Joel Scott YEA NAY ABSTAIN ABSENT
Councilmember Reta Allen YEA NAY ABSTAIN ABSENT
Councilmember Eric Hogue YEA NAY ABSTAIN ABSENT
Councilmember Merrill Young YEA NAY ABSTAIN ABSENT
Councilmember J.C. Worley YEA NAY ABSTAIN ABSENT
Councilmember Chris Trout YEA NAY ABSTAIN ABSENT
SECTION 3. A public hearing shall be held on August 28, 2001, at 7:00 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 Tax Code.
DULY RESOLVED by the City Council of the City of Wylie, Texas, on this the 7th day of
August 2001.
John Mondy, Mayor
Barbara Salinas, City Secretary
2001 Planning Calendar
May Mailing of notices of appraised value by chief appraiser.
May 15 Deadline for submitting appraisal records to ARB.
July 20 Deadline for ARB to approve appraisal records.
July 25 Deadline for chief appraiser to certify rolls to taxing units.
August Certification of anticipated collection rate by collector.
Aug 8 Calculation of effective and rollback tax rates.
Aug 8 Publication of effective and rollback tax rates; statement of schedules; submission to
governing body.
Aug 3 72-hour notice for meeting (Open Meetings notice).
Aug 7 Meeting of governing body to discuss tax rate: if proposed tax rate will exceed the
rollback rate or 103 percent of the effective tax rate (whichever is lower), take record
vote and schedule public hearing.
Aug 15 "Notice of Public Hearing on Tax Increase" (1st quarter-page notice) published at least
seven days before public hearing.
Aug 24 72-hour notice for public hearing (Open Meetings notice).
Aug 28 Public hearing: schedule and announce meeting to adopt tax rate 3-14 days from this
date.
Sept 5 "Notice of Vote on Tax Rate" (2nd quarter page-notice) published before meeting to
adopt tax rate.
Sept 7 72-hour notice for meeting at which governing body will adopt tax rate.
Sept 11 Meeting to adopt tax rate. Meeting is 3-14 days after public hearing. Taxing unit must
adopt tax rate by September 30, or within 60 days of receiving certified appraisal roll.
County must have tax rate by September 19th.
08/01/01 11 :00 e972 5475040 K 11ALN TAX A/C TJ 003
2001 Property Tax Rates
in City of Wylie
This notice concerns 2001 property tax rates for City of Wylie. It presents information
about three tax rates. Last year's tax rate is the actual rate the taxing unit used to
determine property taxes last year. This year's effective tax rate would impose the same
total taxes as last year if you compare properties taxed in both years. This year's
rollback tax rate is the highest tax rate the taxing unit can set before taxpayers can stall
tax rollback procedures. In each case these rates are found by dividing the total
amount of taxes by the tax base(the total value of taxable property)with adjustments
as required by state law. The rates are given per S 100 of property value.
Last year's tax rate:
Last year's operating taxes S3,210,391
Last year's debt taxes S1,258.125
Last year's total taxes S4,468,516
Last year's tax base S6I6,347,034
Last year's total tax rate 0.725000/$100
This year's effective tax rate:
Last year's adjusted taxes 54,456,764
(after subtracting taxes on lost property)
/ This year's adjusted tax base S694,108,660
(after subtracting value of new property)
= This year's effective tax late 0.642084/S100
x 1.03=maxi mum rate unless unit publishes 0.661346/S100
notices and holds hearing
This year's rollback tax rate:
Last year's adjusted operating taxes(after 53,201,995
subtracting taxes on lost property and adjusting for
any transferred function,tax increment financing,
and/or enhanced indigent health care expenditures)
! This year's adjusted tax base S694,108,660
— This year's effective operating rate 0.461310/S100
x 1.08=this year's maximum operating rate 0.498214/S100
This year's debt rate 0.230969/5100
= This year's rollback rate 0.729183/S I00
08/01/01 11:01 er 972 5475040 K MACN TAX A/C Ul 004
Statement of Increase/Decrease
• If City of Wylie adopts a 2001 tax rate equal to the effective tax rate of S0.642084 per
$100 of value,taxes would increase compared to 2000 taxes by S375,652.
Schedule A
Unencumbered Fund Balances
The following estimated balances will be left in the unit's property tax accounts at the
end of the fiscal year. These balances are not encumbered by a corresponding debt
obligation.
Type of Property Tax Fund Balance
Maintenance&Operations $1,228,160
Interest&Sinking S268,980
Schedule B
2001 Debt Service
The unit plans to pay the following amounts for long-term debts that are secured try
property taxes. These amounts will be paid from property tax revenues(or additional
sales tax revenues,if applicable).
Principal or Interest to be
Contract Payment Paid from Other
Description to he Paid from Property Amounts Total
of Debt Property Taxes Taxes to be Paid Payment
Tax S214,670 S80,817 S350 S295,837
Refunding
Bonds Series
1993
G.O.Bonds S59,296 S68,167 S350 S127,813
Series 1995
G.O.Bonds 552,778 S72,641 $350 $125.769
Series 1997
Tax Notes SI50,000 S24,370 $350 S174,720
Series 1998
G.O.Bonds $100,000 SI63,006 $350 S263,356
Series 1999
G.O.Bonds 560,000 $105,360 $350 S165,710
Series 2000
G.O.Bonds S135,000 5232.788 5350 $368,138
Series 2001
Tax Notes S90,000 519,475 S350 S109.825
Series 2001
Public 535,000 S6,993 S350 S42,343
Property Fina.
Cont.Ob
Series 95
Public S55,000 S13.678 S350 S69,028
Property Fin.
Cont.Ob
Series 99
Total required for 2001 debt service S1,742,539
- Amount(if any)paid from funds listed in Schedule A SO
- Amount(if any)paid from other resources SO
- Excess collections last year SO
Total to be paid from taxes in 2001 51,742,539
- Amount added in anticipation that the unit will
collect only 100.00%of its taxes in 2001 SO
= Total debt levy. S1,742,539
This notice contains a summary of actual effective and rollback tax rates'calculations.
You can inspect a copy of the full calculations at 1800 North Graves,Suite 170,
McKinney,Texas 75069.
Name of person preparing this notice:Kenneth L.Maun
Title:Collin County Tax Assessor Collector
Date prepared:July 30,2001