| Item Title: | Budget & Fiscal Policy - Propose the 2018 Property Tax Rate |
| Submitted By: | Wallace Hardgrove, Executive Director, Budget and Fiscal Policy Department (915) 546-2262 |
| Subject: | Pursuant to the Property Tax Code, § 26.05(d), propose a tax rate or pursuant to the Property Tax Code, § 26.05(a), adopt a tax rate for the County of El Paso. |
| Background: | The effective tax rate as calculated by the Tax Assessor Collector was $0.447819 per $100 taxable property value. The current tax rate being recommended for proposal is the rollback rate of $0.478943 per $100 taxable property value and is composed of a maintenance and operations tax rate of $0.437095 and an interest and sinking tax rate of $0.041848 per $100 taxable property value. In accordance with the current financial policies upon receipt of the annually calculated effective and rollback tax from the County Tax Assessor Collector the Commissioners court will as a matter of policy propose the rollback tax rate as a means of establishing a budgetary ceiling as well as to meet statutory publication requirements. This will allow the court to consider programs and projects in alignment with its annual strategic plan. The courts intent and goal during the budget hearings is to manage the potential impact on the final adopted tax rate for the fiscal year. |
| Fiscal Impact: | This tax rate will levy approximately $200.25 million in tax revenues for tax year 2018 which will be utilized for fiscal year 2019 day to day operations of the county and the required annual payment of bonded debt. The proposed tax rate could result in $21.2 million more in revenue than the effective tax rate. |
| Recommendation: | The recommendation is for Commissioners Court to propose the rollback tax rate for the County of El Paso of $0.478943 per $100 taxable property value. The rate is composed of a maintenance and operations rate of $0.437095 and an interest and sinking rate of $0.041848. |
| Prior Action: | N/A |
| Strategic Plan: | .. |
| Strategic Plan Information: | |