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Council sets TRIM notice at property-appraiser rollback rate; staff cites $288,052 reserve use
Summary
After reconsidering an earlier numeric millage, the council voted unanimously to set the TRIM notice at the rollback rate as established by the property appraiser; staff said the corrected rollback would require $288,052 of general-fund reserves relative to the draft budget and individual homeowner impacts would be a few dollars.
Following the successful motion to reconsider, the council voted to set the city's TRIM (tax) notice at the rollback rate determined by the property appraiser rather than adopting a specific millage figure in the motion.
Council member (mover) said he would "establish the millage rate for TRIM... at the rollback rate, which is established by the tax assessor." Staff clarified that the previously shown 3.3339 figure had been entered in error and that the corrected rollback rate is 3.3318. City staff (Benton) explained the fiscal effect: "The corrected rollback rate of 3.3318 ... would require in use of general fund reserves of $288,052, which is an increase of $5,320 over the previous council approved rate." After public comment and additional staff explanation, the clerk called the roll and the motion carried on a unanimous vote.
Council members emphasized that 'rollback' is an accounting tool meant to represent collecting the same dollars as the prior year, and staff provided an example that a $250,000 property with a homestead exemption would see about a $2.32 difference under the rollback scenario. The council directed staff to proceed using the property-appraiser rollback figure in the TRIM notice.
