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SUBJECT: Review of Neighborhood Empowerment Zone Tax Abatement
For Property Located at 509 Canyon Creek Trail
The purpose of this Informal Report is to provide City Council with information regarding a proposed Neighborhood
Empowerment Zone INEZ) residential tax abatement.
Chapter 378 of the Texas Local Government Code provides that a municipality can offer an abatement of municipal
property taxes for properties located in a NEZ.
509 Cannon Creek Trail
Dorlinda and Marcus Jackson (Property Owners) are the owners of the property described as Lot 16R, Block 32,
Woodhaven Country Club Estates, an Addition to the City of Fort Worth, Tarrant County, Texas, according to the Map
thereof recorded in Volume 388-204, Page 69, of the Map Records of Tarrant County, Texas, at 509 Canyon Creek Trail,
Fort Worth, Texas 76112. The property is located within the Woodhaven NEZ and Council District 4. In accordance with
NEZ abatement guidelines, the Property Owners received letters of support from the Woodhaven Community
Development Corporation and the Woodhaven Neighborhood Association. The Property Owners applied for a five-year
municipal property tax abatement under the NEZ Tax Abatement Policy and Basic Incentives (Resolution No. 3487, 05-
2007).
The Property Owners plan to invest an estimated $282,300.00 to construct a single family residential structure (Project)
that will be approximately 5600 square feet and will be used as the Property Owners primary residence. The Housing and
Economic Development Department reviewed the application and certified that the Project met the eligibility criteria to
receive a NEZ municipal property tax abatement.
The municipal property tax on the improved value of the single family residential structure after construction is estimated
at $2,413.67 per year, for a total of $12,068.33 over the five-year period. However, this estimate may differ from the
actual tax abatement value, which will be calculated based on the Tarrant Appraisal District appraised value of the
property.
The owner's municipal property tax abatement in any given year shall be based on the increase in value of the
improvements over its value on May 1, 2009, up to a maximum of $282,300.00. For example, if the value of the
improvements, in a given year exceeds $282,300.00, the owner's abatement for that tax year shall he calculated as if the
appraised value of the improvements for that year had been $282,300.00.
In the event of a sale of this property and Project, the agreement may be assigned without subsequent City Council
approval to the owners' first mortgagee or to a homebuyer who will use the required improvements as their primary
residence. All other assignments must be approved by the City Council.
'-staff recommends proceeding with placing the tax abatement on the May 26, 21,,' )09, City Council agenda for consideration
by City Council.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
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