Memorandum TT) be July 24, 2008 CITY OF DALLAS, ® Honorable Mayor and Members of the City Council 2009 Certified Tax Roll Update We have been notfied regarding the certified tax roll from the Dallas and Denton Counties’ Central Appraisal Districts (CAD) and updates (not yet certified) of tax roll data from the Colin and Rockwall Counties CAD's, The tax rolls CURRENTLY reflect an estimated $3.2 billion or 2.5% decrease in value when compared to the 2008 tax rolls. The 2008 forecasted total taxable value is $87.3 billion, This value loss is 1.5% better than the 5% value loss we forecasted in the June 17th Preliminary Budget Outlook briefing and increases the property tax revenue by slighty ‘over $9 milion. Whie this will be helpful in reducing the remaining $38+ milion dollar 192, with which we are struggling, there are many other revenues which are forecasted to continue to decline well into next year. | expect we will have to lower some other revenue projections downward, There are significant values stil in dispute and the tax roll will continue to change each month after certification. Sales tax, a historically volatile reverue source, has declined signitcanty tis year and must be projected carefully, We will remain caurious in our revenue and expenditure forecasts for the upcoming fiscal year as the budget is finalized Please contact me ifyou have any questions or require additional information, o Mary K. Sihmr- City Manager © Ryan S. Evans, First Assistant City Manager JHA. dorean, PLE. desistant Cy Manager AC Gonzalez Assistant Cty Manager Forest Turner, Assistant Cy Manager David Cook, Che Financial Oe Jeanne Chispectel, Otector, Budget & sragement Services