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Res 11-24 Approving the Tax Rolls for 2011TOWN OF WESTLAKE RESOLUTION NO. 11-24 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS APPROVING THE TAX ROLLS FOR 2011 ON PROPERTY WITHIN THE TOWN; AND PROVIDING AN EFFECTIVE DATE WHEREAS, on duly 26, 2011, the Chief Appraisers of the Tarrant and Denton Appraisal Districts approved and certified to the Westlake Town Council the Tax Rolls for 2011 with a total appraised value $936,334,098 and having a net taxable value of $797,747,546 NOW, THEREFORE, DE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That all matters stated in the preamble are true and correct and are incorporated herein as if copied in their entirety. SECTION 2: That the Certified Tax Rolls value for the tax year 2011 for the Town of Westlake, Texas be and hereby approved in the amount of $936,334,098 for total appraised value. SECTION 3: That the certified net taxable value (total appraised value less exemptions) of $797,747,546 is approved. SECTION 4: That in addition to the value shown in Section 3 above, the Chief Appraisers have prepared a list of all properties pending disposition before the Appraisal Review Board. A projected minimum value of $30,218,721 has been assigned to this property, $38,135,329 in properties not on the rolls, and $29,930,860 represents total ceilings for over 65 and disabled persons for a total of $836,170,736 used for budget purposes. Resolution 11-24 Page i of 2 SECTION 5: That this resolution shall become effective from and after its date of passage. PASSED AND APPROVED ON THIS 29thTH DAY OF AUGUST, 2011. ATTEST; I Kelly dwards, own Secretary LillLaura L. Wheat, Mayor 'ffioma-s"'Eanager Resolution 11-24 Page 2 of 2 Town of Westlake August 22, 2011 1, Debbie Piper, Finance Director for the Town of Westlake submit to the Town Council the 2011 Appraisal Roll as sworn to by Jeff Law, Chief Appraiser of Tarrant County Appraisal District and Joe Rogers, Chief Appraiser of Denton Central Appraisal District. Attached, herewith, are the appraisal roll valuation summary sheets with hard copies of the appraisal roll available for inspection at 3 Village Circle, Suite 202, Westlake, TX 76262. Total Appraised and Assessed Value $ 936,334,098 Less Agricultural Deferral and Exemptions - 138,586,552 Net Taxable $ 797,747,546 ARB Value $ 30,218,721 Incomplete Property Value $ 38,135,329 Over 65 and Disabled Persons Ceiling $ 29,930,860 New Construction (Included in net taxable) $ 791,170,788 Tarrant County Tax Office has certified an anticipated collection rate of 100% for the tax year 2011. This total percentage includes current taxes, delinquent taxes, rollback taxes, penalties and interest. Witness my hand this 22nd of August 2011. Debbie Piper, CP? Finance Director Town of Westlake Sworn and subscribed to me this 22nd day of August, 2011. No ary Pu c Signature County State My OWM'S&" EXPIRES y 3, 414 3 Village Circle, Suite # 202 • Westlake, Texas 76262 Tel: 817-430-0941 • www.westlake-tx.org • Fax: 817-430-181 Resolution 11-24 t TARRANT APPRAISAL DISTRICT TOWN OF WESTLAKE 2011 Certified Appraisal Roll Valuation Summary 25 JUL 2011 1, ,teff Law, Chief Appraiser for the Tarrant Appraisal District, to the best of my ability do solemnly swear that the attached is that portion of the appraisal roll of the Tarrant Appraisal District which lists property taxable by the above named entity and constitutes their certified appraisal roll. APPRAISED VALUE (Considers Value Caps) - - - - - - - - - - - - - - - - - > $ Absolute Exemption $ 6,015,566 Cases before ARB $ 48,973,311 Incompletes $ 117,785,592 Deferred, Special Use, and Partial Exemptions $ 129, 875, 614 See Totals Report for breakdown of each Exemption NET TAXABLE VALUE-------------- ---------------> $ Appraised value minus Absolute Exemption amount, minus ARB amount, minus Incompletes, minus deferred, Special Use and Partial Exemptions to equal the NTV. ESTIMATED NET TAXABLE VALUE --------- ----------> $ Including suggested values to be used for pending A.R.B. accounts (see page two),. and Incomplete accounts (see page three). Jeff Law, Chi 1,099,306,437 796,656,354 864,998,715 Resolution 11-24 Page 1 of 3 2500 Handley-Edervslle Road Fort Worth, Texas 76118 (817) 284-0024 LTR25C.fsi 3-22-2111 _'4 TARRANT APPRAISAL DISTRICT Jeff Law, Chief Appraiser TOWN OF WESTLAKE 2011 Appraisal Review Board Information 25 JUL 2011 Section 25.01 (c) of the State Property Tax Code directs the chief appraiser to prepare a list of all properties under protest with the Appraisal Review Board and pending disposition at the time of value roll certification. The values below are from the ARB roil and are not included in the totals certified by the chief appraiser and represented on page 1 of this report. 48,973,311 Total appraised value of properties under protest. $ 43, 152,903 Net taxable value of properties under protest. $ 30,207,032 Estimated minimum taxable value for the same properties. This value should be added to the net taxable value on page one. Resolution 11-24 Page 2 of 3 2500 Handley-Ederville Road Fort Worth, Texas 76118 (817) 2a4-0024 LTR25D,fst 3.22.2011 V 25 JUL 2011 TARRANT APPRAISAL DISTRICT Jeff Law, Chief Appraiser TOWN OF WESTLAKE 2011 Incomplete Property Information Section 26.01(d) of the State Property Tax Code directs the chief appraiser to prepare a list of all properties that are not on the certified appraisal roll and not included on the ARB roll. The values below are from the incomplete property listing and are not included in the totals certified by the chief appraiser and represented on page 1 of this report. The value of incomplete properties are subject to change and are also subject to appeal before the Appraisal Review Board. $ 117,78-5,592 Total appraised value of incomplete properties $ 38. 135,329 Estimated net taxable value of incomplete properties Resolution 11-24 Page 3 of 3 2500 Handley-Ederviile Road Fort Worth, Texas 76118 (817) 284.0024 LTR25E.fsi 3.22-2411 CERTIFICATION OF 2011 ROLL July 15, 2011 "I, Joe Rogers, Chief Appraiser for the Denton Central Appraisal District, solemnly swear that I have made, or caused to be made, a diligent inquiry to ascertain all property in the district subject to appraisal by me, and that I have included in the records all property that I am aware of at an appraised value determined as required by law." JOEGE S, C EF APPRAISER DE ON CENTRAL APPRAISAL DISTRICT 1 HOPE M. PIERSON `t . �i. k •., SWe ol Texas a 00-13.2.0 a Resolution 11-24 DENTON County 2011 CERTIFIED TOTALS As of Certification C44 - TOWN OF WESTLAKE Property Count: 47 ARE Approved Totals 7/21/2011 7:10:50AM Land Value Homesite: 65,340 Non Homesite: 2,842,999 Ag Market: 8,657,940 Timber Market: 0 Total Land (+) 11,566,279 Improvement Value Homesite: 25,530 Non Homesite: 86,418 Total Improvements H 111 ,948 Non Real Count Value Personal Property: 19 730,461 Mineral Property: 0 0 Autos: 0 0 Total Non Real M 730,461 Market Value = 12,408,688 ETT Non Exempt hxern Total Productivity Market: 8,657,940 0 Ag Use: 35,816 0 Productivity Loss O 8,622,124 Timber Use: 0 0 Appraised Value = 3,786,564 Productivity Loss: 8,622,124 0 Homestead Cap () 0 Assessed Value = 3,786,564 Exemption Count Local State Total EX 12 0 2,695,142 2,695,142 EX366 1 0 230 230 Total Exemptions (-) 2,695,372 APPROXIMATE TOTAL LEVY = NET TAXABLE - (TAX RATE. / 100) 1,747.00 = 1,091,192 * (0.160100 / 100) Tax Increment Finance Value: Tax Increment Finance Levy: 0 0.00 Net Taxable = 1,091,192 Resolution 11-24 044/652999 Page 265 of 747 True Automation, Inc. DENTON County 2011 CERTIFIED TOTALS As of Certification Market Value 044 - TOWN OF WESTLAKE Non hxempt Property Count: 2 Under ARB Review Totals 7/2112011 7:10:50AM 2,400,532 Value Land Homesite: 0 Productivity Loss Non Homesite: 4,642 0 Ag Market: 2,400,532 2,389,659 Timber Market: 0 Total Land N 2,405 174 Value Homestead Cap Improvement Homesite: 0 Assessed Value Non Homesite: 0 Total Improvements M 0 Non Real Count Value Personal Property. 0 0 Mineral Property: 0 0 Autos: 0 0 Total Non Real (+} 0 APPROXIMATE TOTAL LEVY = NET TAXABLE * (TAX RATE 1100) 24.84 = 15,515 * (0.1 60100 1 1 00) Tax Increment Finance Value: Tax Increment Finance Levy: 0 0.00 Net Taxable 2,405,174 O 2,389,659 = 15,515 {-} 0 = 15,515 15,515 Resolution 11-24 0441652999 Page 266 of 747 True Automation, Inc. Market Value Ag Non hxempt Exempt Total Productivity Market: 2,400,532 0 Ag Use: 10,873 0 Productivity Loss Timber Use: 0 0 Appraised Value Productivity Loss: 2,389,659 0 Homestead Cap Assessed Value APPROXIMATE TOTAL LEVY = NET TAXABLE * (TAX RATE 1100) 24.84 = 15,515 * (0.1 60100 1 1 00) Tax Increment Finance Value: Tax Increment Finance Levy: 0 0.00 Net Taxable 2,405,174 O 2,389,659 = 15,515 {-} 0 = 15,515 15,515 Resolution 11-24 0441652999 Page 266 of 747 True Automation, Inc. DENTON County Property Count: 49 2011 CERTIFIED TOTALS C44 - TOWN OF WESTLAKE Grand Totals As of Certification 7/21/2011 7A0:50AM Land Value Homesite: 65,340 Non Homesite: 2,847,641 Ag Market: 11,058,472 Timber Market: 0 Total Land {+) 13,971,453 Improvement alue Homesite: 25,530 Non Homesite: 86,418 Total Improvements (+) 111,948 Non Real Count Valoe Personal Property: 19 730,461 Mineral Property: 0 0 Autos: 0 0 Total Non Real (+) 730,461 Market Value - 14,813,862 Ag Non hxempt Exempt Total Productivity Market: 11,058,472 0 Ag Use: 46,689 0 Productivity Loss {) 11,011,783 Timber Use: 0 0 Appraiser! Value = 3,802,079 Productivity Loss: 11,01 1,783 0 Homestead Cap () 0 Assessed Value = 3,802,079 xemptron Count Local state Total EX 12 0 2,695,142 2,695,142 EX366 1 0 230 230 Total Exemptions {-) 2,695,372 APPROXIMATE TOTAL LEVY = NET TAXABLE " (TAX RATE ! 100) 1,771.84 = 1,106,707 * (0.1601001100) Tax Increment Finance Value: Tax Increment Finance Levy: 0 0.00 Net Taxable = 1,1067707 Resolution 11-24 044/652999 Page 267 of 747 True Automation, Inc. DENTON County 2011 CERTIFIED TOTALS As of Certification C44 - TOWN OF WESTLAKE Property Count: 49 Effective Rate Assumption 7/2112011 7:12:01AM New Value TOTAL NEW VALUE MARKET: $0 TOTAL NEW VALUE TAXABLE: $0 New Exemptions Exemption Description Count ABSOLUTE EXEMPTIONS VALUE LOSS Exemption Description Count Exemption Amount PARTIAL EXEMPTIONS VALUE LOSS TOTAL EXEMPTIONS VALUE LOSS $0 New Ag ! Timber Exemptions New Annexations New Deannexations Average Homestead Value Count of HS Residences Average Market Average HS Exemption Average Taxable Lower Value Used Dunt of ProtestedProperties Total Market Value Tota I Value Used $2,405,174.00 $11,689 Resolution 11-24 C44/052999 Page 271 of 747 True Automation, Inc.