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<br />2002 Property Tax Rates
<br />
<br />)n Clty,of La Porte
<br />
<br />This notice concerns 2002 propt-fY'~ rfres for City of La Porte. It presents
<br />information aboutthJ'!le tax rates. Last year's tax rate is the actual rate the taxing unit
<br />used to determine property taxes last year. This year's effective tax rate would impose
<br />the same total taxes as last year if you compare properties taxed in bbth years. This
<br />year's rollback tax rate is the highest tax rate the taxine unit can set before taxpayers
<br />can start tax 'rollback procedures, In each case these rates are found by dividing the
<br />total amount of taxes by the tax base (the total value of taxable property) with
<br />adjustments as required by state law. The rates are given per 5100 of property value,
<br />Last year's tax rate:
<br />Last year's operating taxes
<br />Last year's debt taxes
<br />Last year's total taxes
<br />Last year's tax base
<br />Last year's total tax rate
<br />This year's elTectlve tax rate:
<br />Last year's adjusted taxes
<br />(after subtractjn, taJCS on lost property)
<br />'" .
<br />1 This year's adjusted tax base
<br />(after subtracting value ofncw_property) _
<br />-;; ibis year's~ffecttve-tax;'rate.j .~' :-.--~
<br />
<br />x 1.03=maxirnum rate unless unit publishes
<br />notices anO holds hEllring
<br />This year's rollback tax rate:
<br />Last year's adjusted operating taxes (after
<br />subtracting taxes on lost property and adjusting for
<br />any transferred function, tax increment financing,
<br />andlor enhanced indigent health care expenditures)
<br />This year's adjusted tax base
<br />= This year's effective operating rate
<br />x 1,08 = this year's maximum operating rate
<br />+ This year's debt rate
<br />= 1l1is year's rollba~te
<br />
<br />St ernent of IncreaselDecrease
<br />
<br />f City of La Porte ad s 20 2 tax rate equal to the effective tax rate of SO. 717 per
<br />;) 00 of value, taxes iI in e com~ared ~o taxes by 5210,420.
<br />
<br />., edul
<br />enclim red Fund alances .
<br />lie following estimated balances will in the unit's property tax accounts at the
<br />nd of the fiscal year. These balances are not encumbered by a corresponding debt
<br />ibligation.
<br />
<br />Type of Property Tax Fund
<br />
<br />Schedule a
<br />2002 Debt Service
<br />he unit plans to pay the following amounts for long-term debts that are secured by
<br />1>perty taxes. These amounts will be paid from property tax revenues (or additional
<br />lies tax revenues, ifapplicable).
<br />
<br />Principal or '
<br />Contract Payment
<br />to be Paid from
<br />Property Taxes
<br />575,000
<br />
<br />General Fund
<br />Debt Service Fund
<br />
<br />Description
<br />of Debt
<br />...-- ---_.
<br />General
<br />Operating
<br />Bonds 1990
<br />
<br />General
<br />Operating
<br />Refunding
<br />Bonds 1994
<br />
<br />Interest to be
<br />Paid from
<br />Property
<br />Taxes
<br />
<br />52,625
<br />
<br />51,090,000
<br />
<br />5125.305
<br />
<br />General 5125,000 599,844
<br />::>perating
<br />Bonds 1998
<br />Jeneral 5150,~ . 5165,344
<br />)perating
<br />~onds 2000
<br />:ertificate of 5150.000 5151,050
<br />)bligations
<br />londs 2000
<br />
<br />58,669,138 .
<br />52,035,363
<br />510,704,501
<br />51,507,676,197-
<br />0.7101$100
<br />
<br />_651,252
<br />51,484,350,506
<br />
<br />0.711 1$100
<br />0.738/5100
<br />
<br />
<br />125,837
<br />
<br />i--;.-
<br />
<br />51,484,350,506
<br />0.581/5100
<br />0.627/5100
<br />0.1351$100
<br />0.762/5100
<br />
<br />aalance
<br />
<br />$6,494,950
<br />
<br />$1,530,281
<br />
<br />Other
<br />Amounts
<br />to be Paid
<br />
<br />Total
<br />Payment
<br />$77,625
<br />
<br />50
<br />
<br />SO
<br />
<br />51,215,305
<br />
<br />SO 5224,844
<br />50 5315,344
<br />SO 5301,050
<br />50 5279,878
<br /> S2.4 I 4,045
<br /> SO
<br /> 5350,050
<br /> $0
<br /> $2,063.995
<br />
<br />leneral SO 5279,878
<br />)perating
<br />lands 2002
<br />
<br />~otal required for 2002 debt service .
<br />~mount (if any) paid from funds listed in Schedule A
<br />~mount (ifany) paid from other resources
<br />:xcess collections last year
<br />'otalto be paid from taxes in 2002
<br />,mount added in anticipation that the unit will
<br />:ollcct only 100,00% of its taxes in 2002 50
<br />
<br />'otal debt levy 52,063,995
<br />
<br />I notice contains a summary of actual effective and rollback tax rates' calculations.
<br />can inspect a copy of the full calculations at 604 W Fainnont Parkway, La Porte,
<br />IS 77571. .
<br />
<br />Name of person preparing this notice: Katherine R. Powell
<br />
<br />Title: Tax Manager
<br />
<br />Date prepared: August 13,2002
<br />
<br />.
<br />
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