Title
Report on certified tax roll, certified estimate of collection rate, certified excess debt collections, and no-new-revenue tax rate and voter-approval rate calculations (Executive Director of Finance & Budget)
Background:
This item is for information only and is required by Section 26.04 of the Property Tax Code. No action is required.
The tax assessor shall submit the appraisal roll for the unit showing the total appraised, assessed, and taxable values of all property and the total taxable value of new property to the governing body. The assessor shall certify an estimate of the collection rate for the current year and the amount of debt taxes collected in excess of the anticipated amount in the preceding year. The assessor shall also submit the no-new-revenue tax rate and voter-approval rate calculations to the governing body. These calculations are required to be published in the newspaper as well. That publication will appear in the Galveston County Daily News on Tuesday, September 6, 2022.
The Galveston County Tax Assessor-Collector serves as the City's Tax Assessor-Collector and works with the Executive Director of Finance & Budget in preparing the calculation of the no-new-revenue tax rate and voter-approval rate using the taxable value information provided by the Galveston Central Appraisal District and Harris County Appraisal District.
2022 Certified Assessed Value (Galveston Co) $15,135,420,716
2022 Certified Taxable Value (Gal & Harris Co) $11,722,270,616
2022 Taxable Value Under ARB Review (Gal & Harris Co) $351,816,022
2022 Total Taxable Value Including ARB Review $12,074,086,638
2021 Total Taxable Value Including ARB Review (at certification) $10,843,007,452
2021 Total Taxable Value at last supplement $10,614,106,013
2022 New Property Taxable Value $152,246,635
2021 New Property Taxable Value $215,498,161
2022 Anticipated Collection Rate 98.22%
2021 Excess Debt Collections $2,014,542
No-New-Revenue Tax Rate $0.420887
Voter-Approval Rate $0.657675
The 2022 Certified Tax Roll including the property under ARB review has a taxable value of $12,074,086,638. This is a 11.35% increase over the 2021 Roll at time of certification. The 2022 taxable value of new property is $152,246,635. This is a decrease of 29.35% when compared to last year's new property values of $215,498,161.
The Galveston County Tax Assessor/Collector certified the estimated collection rate for 2022 as 98.22% and the 2021 excess debt collections as $2,014,542.
The No-New-Revenue Tax Rate is $0.420887.
The Voter-Approval Rate is $0.657675. If the Council proposes a rate that exceeds the voter-approval rate, the budget and tax rate must be adopted by August 22nd and the Council must call for an election on the November uniform election date.
This information is provided as advisory only under State law.
Attachments:
1. Data Sheet
2. 2021/2022 Certified Roll Valuations
3. Certified values from GCAD Chief Appraiser
4. Certified values from HCAD Chief Appraiser
5. GCAD New Property Values
6. NNR and VAR calculation worksheet
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} NOT APPLICABLE