TOWN STAFF REPORT RECOMMENDATION
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Approve Agreement for Collection of Taxes with the Tarrant County Tax Assessor Collector and Tarrant County for the assessment of and collection services for ad valorem taxes levied by the Town of Westlake for tax years 2025, 2026, and 2027 (Cayce Lay Lamas, Finance Director)
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STAFF: Cayce Lay Lamas, Finance Director
BACKGROUND/SUMMARY:
The Town of Westlake outsources the ad valorem tax assessment and collection function to Tarrant County. The Tax Assessor-Collector submits the property tax bills on behalf of the Town and collects the revenue throughout the fiscal year. In addition, they report delinquent taxes to a third party and assess penalties and interest. The Town usually receives its collected tax dollars, including penalties and interest, as they are collected. The Assessor Collector also provides multiple reports that accurately account for the changes in property values, the total amount collected and attributed to the appropriate year.
The fee charged for this service for this current year (tax year 2024) was $0.98 per in county account and $2.00 per out of county accounts. The fees for this renewal will be $1.07 per in-county account, $2.00 per out-of-county account, and per PID, MUD, BID, and MMD account. The fees will remain the same for the entire three-year contract period.
It is estimated the total cost for the new contract will be approximately $2,000.00 annually. This is far less than what it would cost the Town to bring this function in-house.
FISCAL IMPACT:
Budgeted Expense
STAFF RECOMMENDATION:
Staff recommends that Town Council approve the agreement as presented.
ATTACHMENT(S):
Agreement for Collection of Taxes
TOWN COUNCIL ACTION/OPTIONS:
1) Motion to approve
2) Motion to amend with the following stipulations (please state stipulations in motion)
3) Motion to table
4) Motion to deny