Title
Consideration of and action on submittal of the 2020 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 2020:
Total Appraised Value = $ Not Available *
Total Exemptions = $ Not Available *
Total Taxable Value = $3,201,298,735 (HCAD Estimate)
Total Taxable Value of New Property = $63,354,429
Total Taxable Value of Annexed Property = $9,689,659
Total Uncertified = $ Not Available *
Calculated No-New Revenue Tax Rate (formerly the Effective Tax Rate) = $0.715264/$100
Calculated Voter-Approval Tax Rate (formerly the Rollback Tax Rate) = $0.731826/$100
* These values are currently not available from HCAD. Because the certified roll is not available at this time, HCAD can only provide a certified estimate of the taxable value (see letter attached). Note: these values 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 2020-2021 budget.
Recommended action
Consideration and acceptance of the submitted 2020 Tax Roll and the calculated No-New Revenue Tax Rate and the Voter-Approval Tax Rate.