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Memorandum
SUBJECT
Property Tax Overview and Senior Exemptions
On Monday, May 15, 2017, the Office of Financial Services will brief the Budget,
Finance, & Audit Committee on Property Tax Overview and Senior Exemptions. I have
attached the briefing for your review.
M. Elizabeth Reich
Chief Financial Officer
Attachment
c: Honorable Mayor and Members of the City Council Raquel Favea, Chief of Economic Development & Neighborhood Services
T.C. Broadnax, City Manager Jo. M. (Jody) Puckett, P.E., Interim Assistant City Manager
Larry Casio, City Attorney Eric D. Campbell, Assistant City Manager
Craig D. Kinton, City Auditor Jill A. Jordan, P.E., Assistant City Manager
Rosa A. Rios, City Secretary Joey Zapata, Assistant City Manager
Daniel F. Solis, Administrative Judge Cheritta Johnson, Interim Chief of Community Services
Kimbey Bizor Tolbert, Chief of Staff to the City Manager Theresa O'Donnell, Chief of Resilience
Majed A. AlGhafry., Assistant City Manager Directors and Assistant Directors
Elizabeth Reich,
Chief Financial Officer
City of Dallas
E-Gov
Purpose
Provide update on legislative session
Discuss over-65 property tax exemption
Review next steps
E-Gov
Property Tax Legislation
610,000,000
605,000,000 603,133,223
GENERALFUNDREVENUE
600,000,000
595,000,000
607,978,964 606,148,351
590,000,000 604,963,837 603,133,223
585,000,000
588,165,268 589,242,099
580,000,000
575,000,000
PreviousRate GrowthRollbackRate AdoptedRate GrowthRollbackRate ElectionRollbackRate PetitionRollbackRate
$0.7970/$100 (8%) $0.7825/$100 (5%) (6%plus2.2%Inflation) (3%plus2.2%inflation)
$0.7842/$100 $0.7687/$100 $0.7853/$100 $0.7696/$100
GeneralFundRevenue FY17AdoptedTaxRate
8% rollback rate would have generated $1.9m more revenue compared to FY17 adopted, but Council opted to reduce tax rate
5% rollback rate would have generated $14.9m less revenue compared to FY17 adopted
6% + inflation election rollback rate would have generated $3m more revenue compared to FY17 adopted
3% + inflation petition rollback rate would have generated $13.9m less revenue compared to FY17 adopted
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E-Gov 10
Possible Rollback Election
11
E-Gov 11
Property Tax Exemptions
12
$80 $68.4
$70
$66.5 FY17 revenue foregone
based on $33.6 Billion
$60 $56.1 exemption = $263.3m
$50
FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 14
MarketValue CertifiedTaxableValue
$9
25
$8
$8
$4 Over65
$8 $8 $8
InBillionDollars
20 $8 $8 $4 $2
$7 $4
$4 $2 $3
$7
$7 $3 $3 $3 $1 $2
15 $6 $3 $3 $1 $1
$5 $6
$3 $2 $2 $1 $1
$5 $1 $1 $1
$4 $3 $2 $2 $1 $1
$4 $3 $1
10 $3 $3 $3
$1
$4 $3 $1 $3
$3 $1 $1 $1 $2
$3 $1 $3 $15 $15
$2 $13 $14
$3 $1 $3 $3 $12
$1 $3
5 $2 $2 $10 $11 $11 $11
$1 $8
$6 $6 $7
$4 $4 $5 $5
$4 $4
-
FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 15
Totally Exempt Other (tax abatements, cap loss, etc.) Freeport Over-65/Disabled Homestead
Residential homestead
City adopted maximum general homestead
exemption allowed by State law on April 13,
1988
16
Over-65/disabled
City Council approved $64,000 exemption on
September 17, 1986
Council has flexibility to increase or decrease
this exemption
There is no maximum amount related to this
exemption
Minimum amount is $3,000
Must be dollar amount, not percent 17
18
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E-Gov
Property Tax Update
Budget, Finance, & Audit
May 15, 2017
Elizabeth Reich,
Chief Financial Officer
City of Dallas
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Appendix - Property Tax Exemption Analysis
Homestead 2016OV65 2016Disabled
AppraisalDistrict CityName ExemptionPercent Amount Amount
DallasCAD Irving 20% $ 30,000 $ 30,000
DallasCAD Lancaster 0% $ 30,000 $ 30,000
DallasCAD Lewisville*2004 0% $ 60,000 $ 20,000
DallasCAD Mesquite*2004 0% $ 65,000 $ 15,000
DallasCAD Ovilla*2009 0% $ 50,000 $ 50,000
DallasCAD Richardson 0% $ 70,000 $ 70,000
DallasCAD Rowlett*2004 1% $ 30,000 $ 50,000
DallasCAD Sachse*2006 0% $ 50,000 $ 50,000
DallasCAD Seagoville 10% $ 30,000 $ 30,000
DallasCAD Sunnyvale*2006 0% $ 65,000 $ 65,000
DallasCAD UniversityPark 20% $ 338,000 $ 338,000
DallasCAD Wilmer 1% $ 6,000 $ 6,000
DallasCAD Wylie 0% $ 30,000 $ 30,000
DentonCAD Aubrey 0% $ 10,000 $
DentonCAD Carrollton 20% $ 60,000 $ 60,000
DentonCAD Celina 0% $ 30,000 $ 30,000
DentonCAD Coppell 5% $ 75,000 $ 75,000
DentonCAD Corinth 0% $ 20,000 $ 20,000
DentonCAD Dallas 20% $ 64,000 $ 64,000
DentonCAD Denton 1% $ 50,000 $ 50,000
DentonCAD FortWorth 20% $ 40,000 $ 40,000
DentonCAD Frisco 0% $ 70,000 $ 70,000
DentonCAD Grapevine 20% $ 60,000 $ 10,000
DentonCAD Hackberry 0% $ 10,000 $
DentonCAD Haslet 20% $ 50,000 $
DentonCAD HighlandVillage 0% $ 50,000 $ 50,000
DentonCAD Justin 0% $ 5,000 $
DentonCAD Krugerville 0% $ 20,000 $ 20,000
DentonCAD Krum 0% $ 6,000 $ 6,000
DentonCAD LakeDallas 0% $ 20,000 $ 20,000
DentonCAD Lewisville 0% $ 60,000 $ 20,000
DentonCAD OakPoint 0% $ 20,000 $ 20,000
DentonCAD PilotPoint 0% $ 10,000 $
DentonCAD Plano 20% $ 40,000 $ 40,000
DentonCAD Roanoke 20% $ 40,000 $ 4,500
DentonCAD Sanger 0% $ 30,000 $ 20,000
DentonCAD Southlake 16% $ 75,000 $ 75,000
DentonCAD TheColony 0% $ 10,000 $ 10,000
DentonCAD TownofArgyle 1% $ 40,000 $ 40,000
DentonCAD TownofBartonville 0% $ 50,000 $ 50,000
DentonCAD TownofCopperCanyon 1% $ 10,000 $ 10,000
DentonCAD TownofCorralCity 0% $ $
DentonCAD TownofDish 0% $ 10,000 $ 5,000
DentonCAD TownofDoubleOak 0% $ 50,000 $ 50,000
DentonCAD TownofFlowerMound 0% $ 100,000 $ 100,000
DentonCAD TownofHickoryCreek 0% $ 10,000 $ 10,000
DentonCAD TownofLakewoodVillage 0% $ 25,000 $
DentonCAD TownofLittleElm 0% $ 10,000 $ 10,000
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Appendix - Property Tax Exemption Analysis
Homestead 2016OV65 2016Disabled
AppraisalDistrict CityName ExemptionPercent Amount Amount
DentonCAD TownofNorthlake 0%$ 10,000 $
DentonCAD TownofPonder 0%$ 50,000 $ 50,000
DentonCAD TownofProsper 8%$ 10,000 $ 3,000
DentonCAD TownofProvidenceVillage 0%$ 10,000 $ 10,000
DentonCAD TownofShadyShores 1%$ 10,000 $
DentonCAD TownofTrophyClub 0%$ 35,000 $
DentonCAD TownofWestlake 20%$ 10,000 $ 10,000
RockwallCAD Dallas 20%$ 64,000 $ 64,000
RockwallCAD Fate $ 25,000 $ 25,000
RockwallCAD Garland $ 51,000 $ 51,000
RockwallCAD Heath $ 30,000 $ 30,000
RockwallCAD McLendonChisholm $ 30,000 $ 30,000
RockwallCAD Rockwall $ 60,000
RockwallCAD Rowlett 1% $ 30,000 $ 50,000
RockwallCAD Royse $ 6,000 $ 5,000
RockwallCAD Wylie $ 30,000 $ 30,000
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