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Home My WebLink AboutItem 09 - Certified Tax Roll, C, ITEM it '? MEMO TO: HONORABLE MAYOR AND MEMBERS OF TH CITY COUNCIL FROM: ROGER NELSON, CITY MANAGER MEETING DATE: AUGUST 20, 2002 SUBJECT: RESOLUTION TO ACCEPT THE CERTIFIED TAX ROLL RECOMMENDATION: Staff recommends that the City Council approve a Resolution to accept the Certified Tax Roll having a total appraised value of $5,471,902,668 with exemptions of $971,929,707 for a net taxable value of $4,499,972,961 plus an additional $90,660,138 in estimated minimum property value pending disposition before the Appraisal Review Board and $209,890,635 in properties not on roll, less $162,320,317 of new construction for an adjusted tax roll value of $4,638,203,417. 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 Sooter, Tax Assessor, has submitted this information to the City and has also certified that the estimated tax collection rate for the tax year 2002 is 100%. As prescribed by law, the effective and rollback tax rates have been calculated using an appraised value from the certified roll, $5,471,902,668, less $971,929,707 in exemptions for a net taxable value of $4,499,972,961 plus the estimated minimum value of all properties pending disposition before the Appraisal Review Board of $90,660,138 and plus $209,890,635 of value not on the roll, less the new construction value of $162,320,317 for a 2002 adjusted taxable value of $4,638,203,417. The total adjusted taxable value of $4,638,203,417 compares to $4,765,812,233 last year, a 2.6% decrease. The 2002 value also includes $162,320,317 of new construction. The effective tax rate (that rate which will produce the same revenue as last year's rate of $0.3660) is $.376572. The effective tax rate is calculated using the adjusted taxable value. The rollback rate calculation is $.3681. Property Tax Code requires the City Council to hold a tax rate hearing if the total tax levy August 14, 2002 11 :05AM exceeds the lower of the rollback rate or 103 percent of the effective rate. The proposed rate of $0.3660 does not exceed 103% of the effective tax rate. Subsequent Council agendas will have appropriate notice and action items for Council's consideration. Staff recommends approval of the Resolution accepting the tax roll. WAG/cjc Ragm2002taxoll August 14, 2002 11:05AM Tax Office 3072 Mustang Drive Grapevine, TX 76051 817/251-5633 METRO 817/481-1242 FAX 817/421-9400 !Recognizedfor E,;Cce12a7ze independent School (District July 25, 2002 I, Colette Sooter, Tax Assessor -Collector for the City of Grapevine, Texas, submit to the City Council the 2002 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 $5,471,902,668 Less Ag Deferral & Exemptions - 971,929,707 $4,499,972,961 New Construction $ 162,320,317 (Included in net taxable) I certify an anticipated collection rate of 100% for the tax year 2002. This total percentage includes current taxes, 'delinquent taxes, rollback taxes, penalties and interest. ,W%ness my hand,this 25th day of July 2002. Colette Sooter Tax Assessor -Collector S and Subscribed to me this 25th day of July 2002. Notary Public's Signature =LAURAOWENS July252002certgrapvevine County State CITY OF GRAPEVINE JOHN MARSHALL CHIEF APPRAISER I, JOHN MARSHALL, CHIEF APPRAISER FOR TARRANT COUNTY, SOLEMNLY SWEAR THAT THE ATTACHED IS THAT PORTION OF THE APPRAISAL ROLL OF THE TARRANT APPRAISAL DISTRICT WHICH LISTS PROPERTY TAXABLE BY THE ABOVE NAMED ENTITY AND CONSTITUTES THEIR APPRAISAL ROLL. 2002 APPRAISAL ROLL INFORMATION VALUATION SUMMARY TOTAL APPRAISED VALUE """"">>>>>>>>>>>>>>>>>> $5,471,902,668 DEFERRED SPECIAL USE VALUE LOSS: AGRICULTURAL $39,154,406 PARTIAL EXEMPTION VALUE DISABLED VETERAN OVER -65 HOMESTEAD DISABLED PERSON FREEPORT INVENTORY SOLARNIND POWER POLLUTION CONTROL PRORATED ABSOLUTE LOSS: $1,034,555 $48,902,490 $311,984,831 $652,383 $569,905,541 $9,774 $33,712 $251,985 - PP NOMINAL VALUE LOSS: $30 NET TAXABLE VALUE >>>>>>>>>>>>>>>>>>>>>>>>>>>>>> $4,499,972,961 NEW CONSTRUCTION >>>>>>>>>>>>>>>>>>>>>>>>>>>>>> $162,320,317 (INCLUDED IN NET TAXABLE VALUE) MARSHALL 25 JUL 2002 JOHN CHIEF APPRAISER 'aryA 1 of -1 z5uu mandley-Ederville Road Fort Worth, Texas 76118 (817) 284-0024 AML John Marshall Chief Appraiser TARRANT APPRAISAL DISTRICT 25 JUL 2002 2002 A.R.13 Roll Information Section 26.01(c) of the State Property Tax Code directs the chief appraiser to prepare a list of all properties under protest with the Appraisal Review Board and pending disposition at the time of value roll certification. The values below are from the ARB roll and are not included in the totals certified by the chief appraiser and represented on page 1 of this report. 153, 987 , 660 Total appraised value of properties under protest 136, 720, 249 Net taxable value of properies under protest 90, 660, 138 Estimated minimum taxable value for the same properties zsou*unm�v-Ea�vmenv�d Fort Worth, Texas 7�1m �u1��o4-onu� ��nn�nf� ` ---- TARRANT APPRAISAL DISTRICT 25 JUL 2002 CIi'f OF GRAPEVINE 2002 Incomplete Property Information John Marshall Chief Appraiser Section 26.01(d) of the State Property Tax Code directs the chief appraiser to prepare a list of all properties that are not on the certified appraisal roll and not included on the ARB roll. The values below are from the incomplete property listing and are not included in the totals certified by the chief appraiser and represented on page 1 of this report. The value of incomplete properties are subject to change and are also subject to appeal before the Appraisal Review Board. 21 1 , 3 17 , 066 Total appraised value of incomplete properties 209, 890,635 Estimated net taxable value of incomplete properties t--- n _t n 2500 Handlev-Ederville Road Fort Worth. Tp.yac 7R11A IQ171'>un_nn-)e RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS APPROVING THE TAX ROLL FOR 2002 ON PROPERTY WITHIN THE CITY; AND PROVIDING AN EFFECTIVE DATE WHEREAS, on July 25, 2002, the Chief Appraiser of the Tarrant Appraisal District approved and certified to the Grapevine City Council the Tax Roil for 2002 with a total appraised value $5,471,902,668, and having a net taxable value of $4,499,972,961 plus $90,660,138 minimum taxable value of properties under protest and $209,890,635 in properties not on the roll. 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 2002 for the City of Grapevine, Texas be and hereby approved in the amount of $5,471,902,668 for total appraised value. Section3. That the certified net taxable value (total appraised value less exemptions) of $4,499,972,961 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 $90,660,138 has been assigned to this property and $209,890,635 in properties not on the roll. Section 5. The amount of $4,638,203,417 has been used for calculation of the effective tax rate as described in Section 26.04 of the State Property Tax Code. Section 6. 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 20th day of August, 2002. ATTEST: RES. NO.