Agenda
Transcript
AI TRANSCRIPT
This transcript was generated automatically from audio using AI and hasn't been reviewed by a person — it can contain mistakes, including plausible-sounding sentences that were never actually said. Treat it as a starting point, not a verbatim record.
[0:01]
We're going to go ahead and get started and ensure I can just come in when she gets here.
[0:05]
So, at this time, we'll open this meeting of Lake Worth City Council on Tuesday.
[0:13]
September 1st at 505 p.m. and we'll stand for the invocation given by Councilmember Cox.
[0:22]
We remain standing for the pledge of allegiance.
[0:24]
This
[1:41]
time, we'll let the record reflect all council members present except council member white, but that will move to our next agenda item.
[1:50]
There's nobody in the audience, but I'll ask everybody, I'll just want to speak at this time. Hearing nine will move to the next item.
[1:56]
Item under E1 of public hearing on the proposed tax rate, or the fiscal year of 2026, 2027, Stacey.
[2:07]
Thank you. Did you want to open the public hearing really quick?
[2:10]
I'm sorry. Did you want to open the public hearing real quick?
[2:13]
I thought we did. Okay, I'll open the public hearing at 507. I thought I'd do it.
[2:18]
No, no, you're fine. I just want to make sure we legally do it.
[2:20]
No, right. So, Carrington's going to go ahead and make the presentation on our review.
[2:27]
Thank you, Stacey. Hello Mayor and Council. Happy Tuesday.
[2:31]
So, this likes Stacey and we'll mention this is a public hearing for our proposed tax rate for fiscal year 2027.
[2:40]
So just as a reminder, we are proposing a 0.57063 per $100 valuation tax rate, because this rate does exceed the no new revenue tax rate that was calculated in our truth and taxation calculation worksheet, that's why we have to hold this public hearing.
[3:05]
Some details about the breakdown of the tax rate.
[3:11]
The tax rate is broken into two pieces.
[3:13]
There's the debt service portion and then the maintenance and operation portion.
[3:17]
We're proposing for our debt service rate of .323383.
[3:24]
That will cover our debt payments for the upcoming fiscal year.
[3:28]
And then for our maintenance and operations,
[3:29]
are general funds side for proposing a rate of 0.193680.
[3:35]
This is actually the calculated, no new revenue rate on the MNO side.
[3:40]
This will generate about 1.5 million in operating revenue.
[3:44]
Overall, the impact to the average home for Lakeworth,
[3:49]
that is an additional $4.28 per month.
[3:54]
Since this is a public hearing, and of course,
[3:56]
I'd love hearing from you guys if you have any questions or comments.
[4:00]
I'm here, Stacey's here, please let us know.
[4:07]
Yes, the total tax rate is 0.517063517063.
[4:46]
You did.
[4:47]
Yeah, and that's all we had mayor for the presentation.
[4:49]
Unless you guys have any questions for us, we'll just need you to read the bottom paragraph.
[4:54]
So would, you know, I guess there's any other quote.
[5:00]
All right. This time, I'll close the public hearing at 5.10 p.m. and I need to read this following.
[5:11]
City council will take final action only 2,026 tax rate on Tuesday, September 15th, at 2,026 at 6.30 p.m., the meeting will be held in the Lake Worth City Council chambers located at 38.05, Adam Graham Road, Lake Worth, Texas.
[5:31]
7, 6, 1, 3, 5, anything else we need to do?
[5:36]
All right, we're going to adjourn at 5, 11.