Consider approval of a request to amend the City of Texas City’s fiscal year 2016-2017 budget.

Each year the Galveston Central Appraisal District issues supplemental tax valuation reports throughout the tax year.  The change in valuations result in adjustments to the tax levy.

For tax year 2016 (fiscal year 2016/2017) the original tax levy was $22,310,356.  The most recent revision shows the tax levy for tax year 2016 to be $24,098,095, an increase of $1,787,739.

This amendment is to reflect the revised levy in the General Fund and Debt Service Fund.

 
 

Budget amendment is as follows:

General Fund:
Increase in budgeted current tax revenue of    $1,454,504

Debt Service Fund:
Increase in budgeted current tax revenue of     $333,235