News

NEWS
EVENTS
MEETINGS
News Icon

UPPD Community Survey. Tell us how we are doing!

News Icon

COVID-19 Updates and Information.

News Icon

Write a letter to Santa Claus!

News Icon

November Oncor vegetation management efforts COMPLETED.

News Icon

2021 Centennial Master Plan Town Hall 

News Icon

November 2021 UPdate.

Events Icon

Wednesday, December 1 at 10:45 a.m. - Preschool STEAM and Stories.

Events Icon

Thursday, December 2 at 10:45 a.m. - Toddler Story Time @ UPPL.

Events Icon

Friday, December 3 at 10:45 a.m. - Baby Story Time @ UPPL.

Events Icon

Saturday, December 4 at 3 p.m. - UP @ the Library Family Time.

Events Icon

Tuesday, December 7 at 4 p.m. - Create & Chill with UP Public Library.

Events Icon

Tuesday, December 7 at 6:30 p.m. - UPPL Friends Event - Meet Me at the Library with Tracy Walder

Meetings Icon

Tuesday, December 7, 2021 - City Council Meeting

Meetings Icon

Tuesday, December 21, 2021 - City Council Meeting - CANCELLED

Meetings Icon

Tuesday, January 4, 2021 - City Council Meeting

VIEW ALL NEWS VIEW ALL EVENTS VIEW ALL MEETINGS

2020 Tax Rate Calculation - City Budget Preparation

August 7, 2020

Staff will discuss the Fiscal 2021 budget (which runs from October 1, 2020 to September 30, 2021) with the City Council at noon on Tuesday, August 11.  Budget preparations continue to feel the impact of the combined effects of Senate Bill 2 and Covid-19. 
 
Senate Bill 2 effectively “capped” the amount property tax revenue could increase to 3.5% year-over-year (from 8%), before an election to affirm that increase is required.  The bill also replaced some of the well-known descriptions used during the rate setting process, changing “Effective Tax Rate” (the rate that generates the same amount of revenue after giving effect to property value increases) to the “No-New-Revenue Tax Rate.”  It also changed the “Rollback Rate” (the rate which if exceeded, could trigger an election to “rollback” the rate) to the “Voter Approval Tax Rate.”  Importantly, besides changes in nomenclature, the bill also reduced the number of opportunities for resident interaction with the tax rate and budget process, in deference to an expedited adoption schedule.
 
Combined with an unprecedented number of protests filed this year, the change in workflow at the Dallas County Appraisal District (DCAD) due to COVID-19 has resulted in a backlog of unprocessed appraisal protests.  This backlog is uniform across the county.  However, to keep the budget process moving, DCAD issued a Certified “Estimate” of Value on July 17, 2020.  This estimate indicated that over 28% of the market value in the City of University Park is currently under protest, and that both the market and taxable value of properties within the City could decline by as much as 10% from the prior year.  To balance the budget, declines of that magnitude will increase the No-New-Revenue Tax Rate.  DCAD has committed to issuing a revised, final Certified Value on August 20, 2020. 

TY2020 Tax Rate Calculations

Council Agenda - 8/11/2020