Taxing Unit Affected by Disaster

1. TAXING UNIT AFFECTED BY DISASTER
DECLARATION
July 9, 2020
City of College
Station

2. Taxing Unit can direct the body doing the “no new revenue” tax rate calculation
to do so in the manner provided for a special taxing unit if they are affected by
a disaster declaration.
City was notified by Tax Office on June 23,2020
Action must be taken prior to receiving the certified values from the Appraisal District
No New Revenue M&O rate is multiplied by 1.08
Calculation modification in effect for lesser of 2-3 years
2
AUTHORITY UNDER SENATE BILL 2

3. 3
RECOMMENDATION
Staff recommends approval of the resolution
High Level of uncertainty regarding the future
• City dependence on Sales Tax
• Future of A&M Students returning
• Future of A&M sporting events
• Certified values will have a high level of uncertainty
• 2.9 Billion of valuations still under review
• Length of disaster unknown by scientific experts
Flexibility to mitigate uncertainty
• Action does NOT raise the tax rate
• Action provides future councils with options
• Action allows for modeling to be adjusted for 2 to 3 years

4. Council
Meeting
Budget Amendment
#2 FY20
FY21 Budget to
Council
Call Budget Public
Hearing
Budget
Workshops
Council
Meeting
Proposed Ad
Valorem Tax
Rate and
Budget Public
Hearings
Council
Meeting
FY21 Budget
Adoption
FY21 Tax Rate
Adoption
FY21 Fee
Ordinance
Adoption
4
August
27th
August
13th
July 27th
thru July
29th
July 25thJuly 23rd
NEXT STEPS
Tax Office
Tax Rates Provided
to the City

5. 5
Taxing Unit Governing Body must take a formal vote on action
City Staff must provide written notification to Tax Office
• Notification must contain date, time and place of vote.
Action must occur prior to the receipt of certified values
Action becomes part of documentation for Truth in Taxation calculations
REQUIRED ACTIONS