AGENDA CAPTION:
Title
Consider approval of Ordinance 2024-19, on one reading, approving and establishing an exemption from the assessment of the city's ad valorem property tax for eligible child-care facilities pursuant to section 11.36 of the Texas Tax code; declaring an emergency; and providing that this ordinance shall be effective after one reading.
Body
Meeting date: April 16, 2024
Department: Finance
Amount & Source of Funding
Funds Required: No
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: None
City Council Strategic Initiative: [Please select from the dropdown menu below]
Economic Vitality
Quality of Life & Sense of Place
Public Safety, Core Services & Fiscal Excellence
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? Not Applicable
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Background Information:
During the 88th Regular Session, the Texas Legislature passed enabling legislation to place a constitutional amendment on the ballot for voters on November 7, 2023, which upon said vote passed with strong bipartisan support, thereby allowing cities and counties to have the option to provide an exemption from ad valorem property taxation of between 50 to 100 percent of the appraised value of all or a part of real property used to operate a commercial child-care facility.
S.B. 1145 provides a pathway to provide licensed child-care providers some relief from increasing taxes. S.B. 1145 is designed to provide licensed child-care providers relief from higher taxes regardless of whether they own the...
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