§ 3.16.060. Determination and segregation of tax increments—Tax assessor's duty.

The city tax assessor shall cause to have carried out by the central appraisal district, or by other appropriate means, the following acts:

A.

Determine the aggregate assessed value of the property in the district that appears on the city's assessment roll on the date the tax incremental district is created and certify the value to the governing body of the city and the board of directors of the district. That value is the tax incremental base of the taxing unit;

B.

Identify on the assessment roll of the city those parcels of property which are within each existing tax incremental district, specifying the name of each district;

C.

Compute the tax increment for the district according to the formula in Article 1066d, T.R.C.S. (1979);

D.

Deposit in a special fund for the district all tax increments received in the district;

E.

Recompute annually, and upon amendment of the district boundaries, the base and increment in accordance with Article 1066d T.R.C.S. (1979).

(Prior code § 8-25)