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Public hearings on FY2016 proposed budget/tax rate

September 2, 2015

Public hearings on FY2016 proposed budget and tax rate

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On Tuesday, August 18, Tuesday, September 1 and Tuesday September 15, the City Council will hold public hearings related to the FY2016 budget and tax rate.  The tax rate hearings are set for August 18 and September 1.  The public hearings for the budget are on September 1 and September 15.  The Council will vote to adopt the FY2016 budget and FY2016 tax rate during its Tuesday, September 15 meeting.  
 
NOTICE OF PUBLIC HEARING - CITY OF UNIVERSITY PARK, TEXAS

Notice is hereby given that Public Hearings will be conducted by the City Council for the City of University Park, Texas on Tuesday, September 1, 2015 and Tuesday, September 15, 2015 at 5 p.m. at University Park City Hall, located at 3800 University Blvd., University Park, TX 75205.  The purpose of the hearings will be to consider the proposed Operating Budget for Fiscal Year 2015-16.
 
A copy of the Proposed Fiscal Year 2015-16 Budget was filed with the City Secretary on August 14, 2015 and is available for public inspection.  
 
Should the City Council vote to adopt a Proposed Maximum Tax Rate of .26979 per $100, the following would apply:
 
This budget will raise more revenue from property taxes than last year's budget by an amount of $1,357,669, which is a 7.95 percent increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $396,415.
 
Please Note:  The Proposed Maximum Tax Rate is a “not to exceed” rate.  The University Park City Council may adopt a Final Tax Rate at or below this rate.