TOWN STAFF REPORT RECOMMENDATIONS
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Consider and act to approve Resolution 25-19 to Designate an Official to Calculate the Tax Rate (Finance Director Cayce Lay Lamas)
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STAFF: Cayce Lay Lamas, Finance Director
BACKGROUND:
Texas Tax Code 26.04 (c) and 26.17 (e) requires an officer or employee designated by the governing body to calculate the no-new-revenue tax rate and the voter-approval tax rate for the taxing unit after submission of the certified appraisal rolls. Due to the specialized expertise required, the Town elects to designate Rick Barnes, Tarrant County Tax Assessor/Collector, as its primary official for this purpose.
DISCUSSION:
Texas Tax Code specifies that the governing body with property tax authority must designate someone as the party responsible for certifying the no-new-revenue and voter-approval tax rate calculations annually. Due to the complexity of the calculation, the Town of Westlake prefers to engage a property tax professional to certify the calculation and form mandated by the Texas State Comptroller. Staff will remain responsible for the independent calculation and review to ensure accuracy.
FISCAL IMPACT:
While there is no budgetary impact, the calculation of the rate itself is a legally-mandated task that directly impacts the current ad valorem revenue the Town levies.
STAFF RECOMMENDATION:
Staff recommends the approval of the resolution designating an official to calculate the tax rates.
ATTACHMENT(S):
Resolution 25-19
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