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HomeMy WebLinkAboutAd Valorem presentationWestlake Town Council Meeting June 28, 2010  To TAD  Establishes exemptions  Must act by July 1 st  Or, tax rate will not allow for exemption considerations until June 2011 (July 1 st deadline)  Tax rate  Appraised value Tax Rate - Interest & Sinking (Debt service) - Operations & Maintenance • Appraised Value - Minus Exemptions - Minus Abatements  Over 65 years of age/Disabled  Optional Homestead  No final action on tax rate until August  Need to set exemptions NOW if we want them in place for FY 10-11  Set exemptions conservatively; Can always adjust tax rate downward