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September 14, 2026 Final
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Agenda — 1 item

  1. <strong>CITY OF OLMOS PARK, TEXAS<br data-pasted="true">TAXPAYER IMPACT STATEMENT</strong><br><br>House Bill 1522, passed by the Texas Legislature in 2025, amends section 551.043 of the Texas Government Code to require that the notice of a meeting required to be posted under section 551.043(a) of the Texas Open Meetings Act, at which a governmental body will discuss or adopt a budget for the governmental body, must include a taxpayer impact statement showing, for the median-valued homestead property, a comparison of the property tax bill in dollars pertaining to the property for the current fiscal year to an estimate of the property tax bill in dollars for the same property for the upcoming fiscal year.<br><br>The City of Olmos Park has proposed a budget for the 2026-2027 fiscal year. The City intends to adopt its budget on September 16, 2026.2025 Value of Median-Valued Homestead Property in the City: $1,015,6752025 Property Tax Bill for the Current Fiscal Year ($0.511411): $5,194.272026 Value of Median-Valued Homestead Property in the City: $990,000 Estimated 2026 Property Tax Bill for the Upcoming Fiscal Year if the City Adopts the Proposed Budget and Tax Rate ($0.555624 per $100 of value): $5,500.68 Estimated 2026 Property Tax Bill for the Upcoming Fiscal Year if the City Adopts a Proposed Budget Funded at the No-New-Revenue Tax Rate ($0.531886 per $100 of value): $5,265.67 The estimates in this Impact Statement are valid only for the proposed budget and proposed tax rate that the City of Olmos Park City Council will discuss at its meetings on August 19, 2026, September 14, 2026 and September 16, 2026. The proposed budget and the proposed tax rate may each be amended by City Council before their final adoption.

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