Print Reading Mode Return
			8.3.
Regular City Council Meeting
Meeting Date: 09/14/2021
Information
Agenda Item
Ordinance 2nd Reading - Finance: Consider Ordinance No. 2021-O0127 setting the tax rate and levying a tax upon all property subject to taxation with the City of Lubbock for 2021; apportioning said levy among the various funds and items for which revenue must be raised; fixing the times in which said taxes shall be paid and assessing penalty and interest for nonpayment of such taxes within the time provided.
Item Summary
This is the second reading of the ordinance adopting and levying the tax rate for 2021.  Prior to considering the ordinance adopting and levying the tax rate, the City Council must consider the ordinance adopting the budget.  The second reading adopting the budget is Item 8.1 on today’s agenda.  The property tax is proposed at $0.523230 per $100 valuation.  The tax rate is distributed as follows:   General Fund Maintenance and Operations $0.381257 Interest and Sinking Fund 0.120266 Economic Development 0.021707
Fiscal Impact
The General Fund Maintenance and Operations tax rate will generate $73,560,749; the Interest and Sinking Fund tax rate will generate $23,204,445; and the Economic Development tax rate will generate $4,188,207.
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer
Attachments Tax Rate Ordinance Motion Wording

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