CITY OF TEXARKANA, AR

REQUEST FOR BOARD ACTION

 

AGENDA TITLE: Adopt an Ordinance levying the 2018 tax rate. (FIN) Finance Director TyRhonda Henderson

 

AGENDA DATE: 08/20/2018

ITEM#: 6

DEPARTMENT: Finance

DATE SUBMITTED: 08/02/2018

PREPARED BY: TyRhonda Henderson

SUBJECT: 2018 Tax Rate Levy

EXHIBITS: Ordinance

APPROVAL:

EXPENSE REQUIRED: NA

AMOUNT BUDGETED: NA

APPROPRIATION REQUIRED: NA

SUMMARY: Each year, the City is required to establish the property tax levy for that year which is then applied by the County to property tax bills in the next year. The proposed 2018 tax levy is the same as in prior years—5 mils for general fund operations, 1 mil for the fire pension fund, 1 mil for the police pension fund, 1 mil for the library fund, and 2.5 mils for general obligation bond debt service payments. Passage of this ordinance will not increase property tax rates for any City resident.

BOARD ACTION: The City Manager and Staff recommend Board approval.

EMERGENCY CLAUSE: NONE NEEDED

 

 

 

 

ORDINANCE NO. ______

AN ORDINANCE LEVYING THE 2018 TAX RATES AND FOR OTHER PURPOSES

 

BE IT ORDAINED by the Board of Directors of the city of Texarkana, Arkansas:

Section 1:       That upon each and every dollar of taxable property, real and personal, there shall be and is hereby levied the following rate of taxation for the year 2018:

(a)   For defraying the general expenses of the City known as taxes for general purposes, 5 mills on the dollar.

 

(b)   For creating a fund to be used for the maintenance of a public library, 1 mill on the dollar.

 

(c)   For creating a fund to be used for the payment of Firemen pensions, 1 mill on the dollar.

 

(d)   For creating a fund to be used for the payment of Policemen pensions, 1 mill on the dollar.

 

(e)   For creating a fund to be used for general obligation bond debt service payments, 2.5 mills on the dollar.

 

Section 2:       The County Clerk of Miller County, Arkansas, on receipt of duly certified copy of this ordinance from the City Clerk of the City of Texarkana, Arkansas, is directed to enter upon the Tax Books of Miller County, Arkansas, for the year 2018, the foregoing rate of taxation by which all property. Both real and personal, is assessed in the City of Texarkana, Arkansas, and pay over to the Treasurer of the City of Texarkana, Arkansas, the respective amounts so collected and found due to said City on this statement with the County Clerk of Miller County, Arkansas.

PASSED AND APPROVED this 20th day of August­­­­­­­­­­­­­, 2018.

 

_____________________________

Ruth Penney Bell, Mayor

ATTEST:


_______________________________

Heather Soyars, City Clerk

 

 

 

APPROVED:


________________________________

George M. Matteson, City Attorney