O-2016-3651 Ordinance Establishing the Tax Rate for FY 2016-2017at 71 Cents per hundred dollar valuation

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2016 Effective Tax Rate Worksheet City of La Porte Date: 08/29/2016 02:08 PM 1. 2015 total taxable value. Enter the amount of 2015 taxable value on the 2015 tax roll today. Include any adjustments since last year's certification; exclude Tax Code Section 25.25(d) one-third over -appraisal corrections from these adjustments. This total includes $3,062,669,658 the taxable value of homesteads with tax ceilings (will deduct in Line 2) and the captured value for tax increment financing (will deduct taxes in Line 14).1 2. 2015 tax ceilings. Counties, cities and junior college districts. Enter 2015 total taxable value of homesteads with tax ceilings. These include the homesteads of homeowners age 65 or older or disabled. Other taxing units enter 0. If your taxing units adopted the tax $167,615,222 ceiling provision in 2015 or a prior year for homeowners age 65 or older or disabled, use this step.2 3. Preliminary 2015 adjusted taxable value. Subtract Line 2 from Line 1. $2,895,054,436 4. 2015 total adopted tax rate. $0.710/$100 5. 2015 taxable value lost because court appeals of ARB decisions reduced 2015 appraised value. A. Original 2015 ARB Values. $72,195,066 B. 2015 values resulting from final court decisions. $64,645,852 C. 2015 value loss. Subtract B from A.3 $7,549,214 6. 2015 taxable value, adjusted for court-ordered reductions. Add Line 3 and Line 5C. $2,902,603,650 7. 2015 taxable value of property in territory the taxing unit deannexed after Jan. 1, 2015. Enter the 2015 value of property in deannexed territory.4 $0 8. 2015 taxable value lost because property first qualified for an exemption in 2016. Note that lowering the amount or percentage of an existing exemption does not create a new exemption or reduce taxable value. If the taxing unit increased an original exemption, use the difference between the original exempted amount and the increased exempted amount. Do not include value lost to freeport or goods -in -transit exemptions. A. Absolute exemptions. Use 2015 market value: $23,065 B. Partial exemptions. 2016 exemption amount or 2016 percentage exemption times 2015 $8,035,025 value: C. Value loss. Add A and B.5 $8,058,090 9. 2015 taxable value lost because property first qualified for agricultural appraisal (1-d or 1-d-1), timber appraisal, recreational/scenic appraisal or public access airport special appraisal in 2016. Use only properties that qualified in 2016 for the first time; do not use properties that qualified in 2015.