1983-05-11 Workshop Meeting - Laserfiche WebLink

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• CITY OF LA PORTE INTER-OFFICE. MEMORANDUM • TO: Robert T. Herrera DATE: May 6, 1983 FROM: Betty Blackmon SUBJECT: Optional Residential Homestead Exemption At the City Council workshop meeting of April 13, 1983, the optional residential"homestead exemption was discussed, at this time two questions were asked:. I. How would this exemption effect the commercial taxpayers? If the. tax rate were raised to offset the loss in revenue from granting this exemption, the commercial and industrial taxpayer would be paying for this exemption. If the tax rate ~ ' were to remain the same there would be no change for the commercial and industrial taxpayer. 2. How would this exemption effect the industrial tax payer and their "in Lieu" payments2 If the. tax rate were raised our industrial tax payer would be making larger payments, both in ad valorem taxes and "in lieu" payments. There. would be no change if the rate were to remain the same. If the rate were lowered. our in- dustrial taxpayer would be paying less. in both ad valorem taxes and "in lieu'', as their payments are based on our tax rate, example: value x 45% x tax rate = total payment (ad valorem tax and ''in lieu" payment). Attached are examples, I have also included maximum tax rate calculations based on estimations of value. On January 1, 1984, the City of La Porte will become a part of the Harris County Appraisal District. At-this time I expect values to escalate by .anywhere from 20% to 50% on all ?property located within our corporate limits with the exception of all industry located within our corporate limits and our extraterritorial jurisdiction, which includes both our Battleground Industrial District and our Bayport Industrial District. I.have attempted to explain how this escalation of values will effect our tax rate, with or without the optional residential homestead exemption n~,, ~ Betty Blackmon Tax Assessor Collector