HomeMy WebLinkAboutRES 880261 - Tax Code Allocating CostRESOLUTION 880QL)
WHEREAS, the City Council of the City of Georgetown, Texas is
empowered under Section 6.061 of the Property Tax Code to make changes to
the method of allocating the costs of operation of the District;
WHEREAS, the City Council of the City of Georgetown, Texas
believes allocation of the costs of the operation of the District by the
ratio of the levies of each participating taxing unit to the sum of the
levies of all participating taxing units is the most equitable and
reasonable for allocation;
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS:
•
That the City Council finds that the recitals set forth above are
true and correct and are incorporated herein.
Section II.
That the following formula shall be used to allocate to each
participating taxing unit its share of the District's costs of operation
for the year 1989 and all future years:
Levy of each participating
taxing unit from properties
appraised by Williamson
County Appraisal District
oma�a e
sum of the levies of all
participating taxing units
from properties appraised by
Williamson County Appraisal
District
District's costs
x of operation
for year
Unit's allocated
share of the
District's cost
of operations
for the year
PASSED and APPROVED this 14 day of AJU-41� , 1988 by a
vote of 5 "Ayes" and "Nos" with 5 {numb k) of council members
present and voting.
Tim Kennedy, Mayor
Attest:
t.
Leta Willoughby, City ecreta,#y
AD VALOREM TAX
LEVIES AND :+ OV
1988/89
The Williamson County Appraisal District has provided -the following
certified 1988 tax roll information:
Net taxable, not under protest $438,102,540
Net taxable, under protest --.14,776,851
An "Effective Rate" of $.38022/$100 is derived applying the values above to
State required calculations.
Maintenance and operation $.27954
Interest and sinking .09628
Total tax rate $.37582
Although it exceeds the current,.levy ($.36637), the proposed tax rate
($.37582) is less thanthe "Effective Rate" ($.38022).'
The City Manager's.Budget proposes a tax collection rate of approximately
92%.