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i04 Effective Tax Rate wor'heet Entity Name: City of La Porte Date: 08/18/2004 See pages 17 to 20 of the Texas Comptroller's 2004 Truth-in- Taxation Manual for an explanation of the effective tax rate. Note: School districts are not required to publish an effective tax rate. School districts may complete this worksheet, at their option, or may skip to the Rollback Tax Rate Worksheet 1 . 2003 total taxable value. Enter the amount of2003 taxable value on the 2003 tax $1,560,569,980 roll today. Include any adjustments since last year's certification; exclude Section 25.25(d) one-third over-appraisal corrections from these adjustments. This total includes 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). . SCHOOL DISTRICTS. Enter 2003 total taxable value of homesteads with tax $0 ceilings. These include the homesteads of homeowners age 65 or older or disabled. Other units enter "0" (Note: Beginning with the 2005 tax rate, taxing units that adopted in 2004 the tax ceiling provision for homeowners age 65 or older or disabled will use this step.) . Preliminary 2003 adjusted taxable value. Subtract line 2 from line 1. $1,560,569,980 2003 total adopted tax rate. (/$100) 0.710 2003 taxable value lost because court appeals of ARB decisions reduced 2003 appraised value. A. Original 2003 ARB values: $1,162,620 B. 2003 values resulting from final court decisions: $146,080 c. 2003 value loss. Subtract B from A. $1,016,540 2003 taxable value, adjusted for court-ordered reductions. Add line 3 and line $1,561,586,520 5C. 2003 taxable value of property in territory the unit deannexed after January I, $0 2003. Enter the 2003 value of property in deannexed territory. 2003 taxable value lost because property first qualified for an exemption in 2004. 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 due to freeport exemptions or tax abatements. A. Absolute exemptions. Use 2003 market value: $1,490,830 B. Partial exemptions. 2004 exemption amount or 2004 percentage $6,016,970 exemption times 2003 value: c. Value loss. Add A and B. $7,507,800 2003 taxable value lost because property first qualified for agricultural appraisal (I-d or I-d-I), timber appraisal, recreational/scenic appraisal or public access airport special appraisal in 2004. Use only those properties that first qualified in 2004; do not use properties that qualified in 2003. A. 2003 market value: $92,070 B. 2004 productivity or special appraised value: $15,730 c. Value loss. Subtract B from A. $76,340 Total adjustments for lost value. Add lines 7, 8C and 9C. $7,584,140 2003 adjusted taxable value. Subtract line 10 from line 6. $1,554,002,380 2 3 4. 5. 6. 7. 8. 9. 10. 11. Truth In Taxation - July 2004 Page: I