09-14-1987 (City Council) Agenda Packet DATE POSTED 9-11-87
TIME POSTED 3:00 P.M.
AGENDA
CALLED CITY COUNCIL MEETING
MONDAY, SEPTEMBER 14, 1987
800 THOMAS STREET
COMMUNITY ROOM
7:00 P. M.
CALL TO ORDER
INVOCATION
ORDER OF PAGE
BUSINESS REFERENCE BUSINESS
1 1 - 2 Conduct Pubic Hearing on the proposed
tax rate for 1987
2 3 Consider the date of September 22, 1987
at 7:00 P.M. to vote on the 1987 tax rate
3 Adjourn
NOTICE OF A CALLED MEETING
Notice is hereby given that the governing body of the City of Wylie
will meet in a called session at 7:00 P. M. on the 14th day of
September, 1987 in the Wylie Community Room at 800 Thomas Street,
in the City of Wylie, Texas, for the purpose of the above agenda.
Carol on , City Secretary
POSTED THIS THE 11TH DAY OF SEPTEMBER, 1987 AT 3:00 P.M.
NOTICE OF 1987 EFFECTIVE TAX RATE FOR CITY OF WYLIE
The purpose of this notice is to inform you about your
taxes. The 1987 effective tax rate is a tax rate that would
levy the same amount of operating taxes the taxing unit
levied last year on property taxed in both years , plus the
amount the unit needs to pay certain long term debts this
year . The rate is calculated as follows:
1986 Maintenance & Operations tax levy (3) $ 1,012,715.
Less total adjustments to 1986 tax levy (13) -$ 170,508.
Equals adjusted 1986 maintenance &
operations levy: (14 ) $ 842,207.
1987 total tax base (18) $ 279,885,512.
Less adjustments for value of new
property (21) -$ 40,651,571.
Equals adjusted 1987 tax base (22) $ 239,233,941.
The adjusted 1986 levy divided by the
adjusted 1987 tax base and multiplied
by 100 equals the effective maintenance
and operations tax rate: (31) $ .3530 /100
Plus rate to correct for appraisal
roll errors: (29 & 30) +$ .0000 /100
Plus rate needed to pay debts and
obligations: (38) +$ .0777 /100
Equales 1987 effective tax rate: (39) $ .4307 /100
1987 effective tax rate: (39) $ .4307 per $100 of value
The maximum rate the governing
body can adopt without publishing
notices and holding a hearing
is: (41) $ .4436 per $100 of value
The maximum rate the governing
body can adopt before taxpayers
can initiate rollback petitions
is: (42) $ .4651 per $100 of value
This notice contains a summary of the calculations used to
determine this year' s effective tax rate. You can inspect
the full calculations at City Tax Assessors/Collectors
office at 108 S. Jackson Street.
SCHEDULE A: Unencumbered Fund Balances
The taxing unit estimates that the following balances will
be left in the unit ' s accounts at the end of the fiscal
year . The balances are not encumbered by a corresponding
debt obligation.
Type of Fund Balance
General Fund (174,974.)
SCHEDULE B: 1987 Debts Paid From Property Taxes
This taxing unit estimates that the unit will pay the
following amounts out of property tax revenues for long-term
debts that are secured by property taxes .
Descrip- Principal or Other
tion Contract Payment Interest amounts Total
of Debt to be paid to be paid paid Payment
Pavin
Pagents Yee
1980 Park
Improvement 15,000 6,300 300. 21,600.
Cert. of Obl.
1986 GO 40,000 144,610 500. 185,110
Total Amount Required for 1987 Debt Service $ 206,710.
Less Amount that will be paid from funds
listed in Schedule A -$ -0-
Total to be paid from Property taxes this
year $206,710.
Amount added in Anticipation that the Unit
will collect only 95% of its Taxes in 1987 +$ 10,879.
Total Debt Tax Levy $217,589.
NOTICE OF VOTE
ON TAX RATE
The City Council of the City of Wylie conducted a public
hearing on a proposal to increase your property taxes by
32% percent on Monday, September 14 , 1987 at 7 : 00
P .M. in the Community Room at 800 Thomas Street .
A public meeting to vote on the tax rate will be held on
Tuesday, September 22 , 1987 at 7 : 00 P .M. in the Community
Room at 800 Thomas Street .