Title
Consideration of and action on submittal of the 2017 Tax Roll and the calculation of the Effective Tax Rate and the Rollback 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 2017:
Total Appraised Value = $3,020,951,492
Total Exemptions = $710,747,074
Total Taxable Value = $2,310,204,418
Total Taxable Value of New Property = $40,345,109
Total Taxable Value of Annexed Property = $3,080,235
Total Uncertified = $369,867,508
Calculated Effective Tax Rate = $0.698346/$100
Calculated Rollback Tax Rate = $0.731012/$100
Fiscal/Budgetary Impact: Current ad valorem taxes represent approximately 31 percent of the total General Fund revenue in the proposed Fiscal Year 2017-2018 budget.
Recommended action
Consideration and acceptance of the submitted 2017 Tax Roll and the calculated Effective Tax Rate and the Rollback Tax Rate.