HomeMy WebLinkAboutRES 880288 - Source & Alt Fair Market Value1i !COUNCIL
APPROVALOF GE
ESTABLISHING THE SOURCE OF FAIR
MARKET VALUE DATA, PROVIDING FOR CITY COUNCIL
DETERMINATIONS
MARKET VALUE, AFFIRMING THE APPRAISAL BOARD
PROCEDURE AND THE FINAL AUTHORITY
COUNCIL IN ACCEPTING A FEE IN LIEU OF PARK
LAND DEDICATION.
WHEREAS, the Georgetown Subdivision Regulations by
ordinance R r iii provide R.the payment of .: fee
in lieu of the dedication of park land by the subdivider of land,
with such fee to be computed based in part on the fair market
value of 1 within the subdivision;1
WAEREkS, the regulations provide that fair market value shall
negotiated between the subdivider and the City; and
WHEREAS, the City Council desires that the computation of fees to
be paid in lieu of park land dedication be as simple and
equitable as possible while achieving the purpose of the fee
provision, and
SubdivisionWHEREAS, the Williamson County Appraisal District maintains dat
on the appraised value of parcels which are subject to the City'
Regulations,
which the City and other entities compute ad valorem taxes, a
that appraised value is readily
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Georgetown, Texas that:
The City staff shall accept as fair market value the value most
recently established by the Williamson County Appraisal District
as the appraised value of a parcel or parcels included within a
proposed subdivision.
SECTION II.
Any subdivider who believes the fair market value of his/her_land
R be different from the appraised value as established under
Section I above may request that the City Council, with the
recommendation of the Planning and Zoning Commission, approve an
alternative fair market value forpurpose of computing
in lieu of park land dedication. Such request shall be submitted
in writing, with appropriate supporting material, to the Director
of Development and Planning on or before the established deadline
for submittal of items for the Commission's agenda;
Fair Market Value Resolution • 8-3-88
SECTION III.
It is the intent of the City Council in adopting this resolution
to establish a simple, equitable method of determining fair
Fitarket value for the purpose stated above, and to avoid the
expense and delay associated with the Appraisal Board process as
set forth in the Subdivision Regulations, Section 42030.B.3.
However, nothing herein shall be construed to limit the right of
the City or the subdivider to invoke the Appraisal Board
procedure, or to conflict with the authority of the City Council
to make the final determination either to accept dedication of
land for a public park or to require an in -lieu fee payment, as
sot forth in the Subdivision Regulations, Section 4203O.A. This
resolution shall remain in affect until it is rescinded or
modified by action of the City Council, whether such action be by
resolution or ordinance.
RESOLVED this 23rd day of August, 1988.
Tim Kennedy, Mayo
MWNW]WO
Le'Willoughby Diane -C —al f ander
City Secretary City Attorney
Fair Market Value Resolution (psf FMV reso) 8-3-Z*
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
CITY OF GEORGETOWN §
I, , being the current City Secretary of the City
of Georgetown, Texas do hereby certify that the attached is a true and
correct copy of Resolution No. , passed and approved by
the City Council of the City of Georgetown, Texas on the day
of -, 19 _, and such resolution was duly adopted at a
meeting open to the public and notice of said meeting, giving the date,
place, and subject thereof, was posted as prescribed by Article
6252-17, Section 3A, VATCS.
Witness my hand and seal of office this day of , 19
(City Seal)
City Secretary