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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br /> <br />Al;lDroDriation <br /> <br />Requested By: Michael Dolb CPA Finance Director <br /> <br />Source of Funds: <br /> <br />Department: FINANCE <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Property Tax Code: Section 31.032 <br />Exhibits: <br />Exhibit <br /> <br />Amount Requested: <br /> <br />Budgeted Item: YES <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Residents that were located in a disaster area and sustained damage were evaluated by the City' planning <br />department and were placed into two categories- Substantial Damage (50% and above) and Non <br />Substantial Damage (49% and below). According to Section 31.032 (of the property tax code), <br />installment payments are allowed for property taxes for those residential homesteads located in a disaster <br />area. These installment payments should only apply to those who do not pay their taxes through a <br />mortgage escrow account. <br /> <br />The tax office will send letters to those residents with a homestead exemption that sustained damage of at <br />least 25% and did not pay taxes through a home mortgage escrow account. The letter will inform them of <br />the installment agreement that allows them to pay quarterly with installments beginning no later than <br />January 1,2009, March 31, 2009, May 31, 2009 and ending July 31, 2009. Staff will evaluate each case <br />to determine that the damage sustained is at least 25% to qualify for this program. <br /> <br />Action Reauired bv Council: <br /> <br />ve taxing unit guidelines for installment payments for residential homesteads with a <br />urn of 25% damage. <br /> <br /> <br />d~J~ <br /> <br />Date <br /> <br />10/311200810:06 AMlS:/fmance director/sickbuyback.doc <br />