Title
Acceptance of certification of the anticipated Tax Collection Rate.
Body
Summary: Sections 26.04 (b) and 26.04(e)(3)(C) of the Property Tax Code require the Tax Collector to certify (1) an estimate of the property tax collection rate to the governing body and (2) any amount collected in excess of the previous year's anticipated collections. Tax Assessor-Collector Stephanie Register has submitted the attached memo in which she anticipates a collection rate of 100.00% in tax year 2024 (which is Fiscal Year 2024-2025) and reports excess debt collections of $644,315 for tax year 2023.
Fiscal/Budgetary Impact:
The proposed Fiscal Year 2024-2025 Budget is supported through the collection of ad valorem taxes. Lowering the collection rate would necessitate changes to this proposed budget, which would adversely affect the debt rate and tax collections.
Recommended action
No action required.