Title
Consideration of and action on submittal of the 2024 Tax Roll and the calculation of the No-New Revenue Tax Rate and the Voter-Approval Tax Rate.
Body
Summary: In accordance with Section 26.04 of the Texas Property Tax Code, the following items are presented for Council consideration relative to Tax Year 2024:
Total Appraised Value = $ Not Available *
Total Exemptions = $ Not Available *
Total Taxable Value = $4,521,335,686 (HCAD Estimate)
Total Taxable Value of New Property = $64,623,982
Total Taxable Value of Annexed Property = $10,315,537
Total Uncertified = $ Not Available *
Calculated No-New Revenue Tax Rate = $0.690846/$100
Calculated Voter-Approval Tax Rate = $0.723103/$100
Note: because the certified roll is not available at this time, HCAD can only provide a certified estimate of the taxable value (see letter attached). The “*” values are currently not available from HCAD but are not used in the truth-in-taxation calculation.
Fiscal/Budgetary Impact:
Current ad valorem taxes represent approximately 38 percent of the total General Fund revenue in the proposed Fiscal Year 2024-2025 budget.
Recommended action
Consideration and acceptance of the submitted 2024 Tax Roll and the calculated No-New Revenue Tax Rate and the Voter-Approval Tax Rate.