HomeMy WebLinkAboutItem 10 - Certified Tax RollMEMO TO
FROM:
MEETING DATE:
SUBJECT:
RECOMMENDATION:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
BRUNO RUMBELOW, ACTING CITY MANAGER
AUGUST 16, 2005
RESOLUTION TO ACCEPT THE CERTIFIED TAX ROLL
Staff recommends that the City Council approve a Resolution to accept the Certified Tax
Roll having a total appraised value of $6,223,851,162 less exemptions of $980,372,525
for a net taxable value of $5,243,478,637.
BACKGROUND INFORMATION:
This Resolution is provided pursuant to Section 26.04 of the Texas Property Tax Code
which requires the assessor for a taxing unit to submit the total appraised value, the total
assessed value and the total taxable value of the property within the unit's boundaries to
the unit's governing body by August 1 st or as soon thereafter as practicable.
Colette Franklin, Tax Assessor, has submitted this information to the City and has also
certified that the estimated tax collection rate for the tax year 2005 is 100%. As prescribed
by law, the appraised value from the certified roll of $6,223,851,162, less $980,372,525 in
exemptions, produces a net taxable value of $5,243,478,637. The new construction value
included in the net taxable value amount is $89,497,962.
The adjusted taxable value for 2005 is $4,819,331,298. This compares to $4,707,249,104
for last year, a 2.38% increase. The adjusted taxable value is used for effective tax rate
calculations.
The effective tax rate (that rate which will produce the same revenue as last year's rate)
is $0.365850. The effective tax rate is calculated using the adjusted taxable value.
The City Council designates Colette Franklin, RTA, CSTA as the official person to calculate
and publish the effective tax rate calculation for the City of Grapevine, Texas for tax year
2005, FYE 9/30/06.
Staff recommends approval of the Resolution accepting the certified tax roll.
WAG/sit
Kagm2005taxroll
August 8, 2005 10:18AM
Tax Office
3072 Mustang Drive
Grapevine, TX 76051
817/251-5633
METRO 817/481-1242
FAX 817/421-9400
recognized for E;�CeZZ-&ce
Independent Schoof District
July 25, 2005
I, Colette Franklin, Tax Assessor -Collector for the City of Grapevine, Texas,
submit to the City Council the 2005 Appraisal Roll as sworn to by John
Marshall, Chief Appraiser of the Tarrant County Appraisal District. Attached,
herewith, are the appraisal roll valuation summary sheets with hard copies of
the appraisal roll available for inspection at 3072 Mustang Drive, Grapevine,
Texas 76051.
Total Appraised and Assessed Value $6,223,851,162
Less Ag Deferral & Exemptions - 980,372,525
Net Taxable $5,243,478,637
New Construction $ 89,497,962
(Included in net taxable)
I certify an anticipated collection rate of 100% for the tax year 2005. This
total percentage includes current taxes, delinquent taxes, rollback taxes,
penalties and interest.
)Yjtness my hand this 25th day of July 2005.
( do Lwl�,A -
Colette Franklin, kTA, CSTA
Tax Assessor -Collector
Sin and subscribed to me this 25th day of July 2005.
Notary Public's Signature County S
LAURA OWENS
MY COMMtSSIONN EXPIRES
/
Suly 25 2005 Certified Roll -Grapevine
July 25, 2005 Appraisal Roll
Property Value Summary for Tax Year 2005 ( FYE 2006 )
Total Appraised and Assessed Value 6,223,851,162
Less Ag Deferral & Exemptions (980,372,525)
Net Taxable 5,243,478,637
Less TIF Increment (485,366,688)
4,758,111,949
Plus Protested Value 102,389,255
Plus Values Not Included on Roll 48,328,056
2005 Taxable Value for Rollback 4,908,829,260
Less New Construction (89,497,962)
2005 Taxable Value for Effective Tax Rate 4,819,331,298
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS APPROVING THE TAX ROLL FOR
2005 ON PROPERTY WITHIN THE CITY; AND PROVIDING
AN EFFECTIVE DATE
WHEREAS, on July 26, 2005, the Chief Appraiser of the Tarrant Appraisal
District approved and certified to the Grapevine City Council the Tax Roll for 2005
with a total appraised value $6,223,851,162 and having a net taxable value of
$5,243,478,637.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS:
Section 1. That all matters stated in the preamble are true and correct and
are incorporated herein as if copied in their entirety.
Section 2. That the certified Tax Roll value for the year 2005 for the City of
Grapevine, Texas be and hereby approved in the amount of $6,223,851,162 for
total appraised value.
Section 3. That the certified net taxable value (total appraised value less
exemptions) of $5,243,478,637 is approved.
Section 4. That In addition to the value shown in Section 3 above, the Chief
Appraiser has prepared a list of all properties pending disposition before the
Appraisal Review Board. A projected minimum value of $102,389,255 has been
assigned to this property and $48,328,056 in properties not on the roll.
Section 5. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 16th day of August, 2005.
ATTEST:
16-1