HomeMy WebLinkAboutItem 07 - Ad Valorem Tax RateMEMOTO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 15, 2020
SUBJECT: ADOPT AD VALOREM TAX RATE AND ORDINANCE
RECOMMENDATION: City Council to consider an ordinance adopting an ad valorem tax rate
$0.282601 per $100 valuation for tax year 2020 and fiscal year 2021.
FUNDING SOURCE:
BACKGROUND: The ad valorem tax shall be apportioned as follows:
■ General Fund, a tax rate of $0.143476 per $100 value
■ Debt Service, a tax rate of $0.139125 per $100 value
The FY 2021 budget was developed using the following values for tax rate
calculation purposes:
* Total appraised & assessed value $15,359,590,492
* Adjusted 2020 total taxable value $9,306,071,773
* New construction value of $79,660,310
The FY 2021 budget includes the General Fund and Debt Service
apportions of the taxes as noted above.
The proposed tax rate of $0.282601 per $100 value is $.001670 less than
the previous year tax rate.
The no new revenue tax rate is $0.282694 per $100 value, which is
$0.000093 above the proposed rate.
The voter approval tax rate is $0.285904 per $100 value, which is
$0.000303 above the proposed rate.
Staff recommends approval.
ORDINANCE NO. 2020-042
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, SETTING THE ANNUAL TAX RATE
FOR TAX YEAR 2020 LEVYING TAXES TO BE ASSESSED
ON ALL TAXABLE PROPERTY WITHIN THE LIMITS OF THE
CITY OF GRAPEVINE, TEXAS; PROVIDING PENALTIES
AND INTEREST FOR THE DELINQUENT TAXES;
DECLARING AN EMERGENCY AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, THE City Council of Grapevine, Texas has approved an operating
budget for the fiscal year 2020 - 2021 (FY 2021), in compliance with appropriate state laws
and the Charter of the City of Grapevine; and,
WHEREAS, a public hearing was held on the FY 2021 budget and all interested
parties were given an opportunity to be heard for or against any item contained therein;
and,
WHEREAS, public hearings were not required regarding the 2020 proposed ad
valorem tax rate since the City's proposed tax rate is less than both the No New Revenue
Rate and the Voter Approval rate; and,
WHEREAS, an ad valorem tax rate of $0.282601 per $100 valuation has been
considered for tax year 2020.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That a tax rate is hereby levied upon all taxable property in the City of
Grapevine, Texas for tax year 2020 at a rate of twenty-eight twenty-six and one hundreds
cents ($0.282601) per one hundred dollars ($100.00) valuation. THIS TAX RATE WILL
RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S
TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY 3.28 PERCENT AND
WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY
APPROXIMATELY $1.90.
Section 2. That there shall be and there is hereby levied the following taxes on
each one hundred dollars ($100.00) valuation on all taxable property within the City of
Grapevine, Texas, to be assessed and collected by the Tax Assessor/Collector and
collected for tax year 2020, and said taxes are to be assessed and collected for the
purposes and in the amounts hereinafter stipulated, to -wit:
A. For the General Fund, a tax rate of $0.143476 per $100 is levied.
B. For Debt Service, a tax rate of $0.139125 per $100 is levied.
Section 3. That taxes levied by this ordinance shall be due and payable on the first
day of October, 2020 and shall become delinquent on the first day of February, 2021, if
unpaid. Upon taxes becoming delinquent, interest and penalty will be added as required in
Section 33.01 of the Texas Property Tax Code, and shall commence on the first day of
February, 2021. The City of Grapevine is hereby authorized to adopt any and all legal
remedies provided by the Texas Property Tax Code for the purpose of collecting
delinquent taxes.
Section 4. That the fact that the fiscal year begins on October 1, 2020 requires that
this ordinance be effective upon its passage and adopted to preserve the public peace,
property, health, and safety, and shall be in full force and effect from and after its passage
and adoption, and an emergency is hereby declared.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, on this the 15th day of September, 2020.
APPROVED:
William D. Tate
Mayor
ATTEST:
Tara Brooks
City Secretary
APPROVED AS TO FORM:
City Attorney
Ordinance No. 2020-042 2