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<br />2008 Property Tax Rates in City of La Porte <br />This notice concerns 2008 property tax rates for City of La Porte. It presents <br />information about three 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 <br />impose the same total taxes as last year if you compare propertiestaxed in both years. <br />This year's rollback tax rate is the highest tax rate the taxing unit can set before <br />taxpayers can start tax rollback procedures. In each case these rates are found by <br />dividing the total amount of taxes by the tax base (the total value of taxable property) <br />with adjustments as required by state law. The rates are given per $100 of property <br />value. <br /> <br />Last year's tax rate: <br /> <br />Last year's operating taxes <br /> <br />Last year's debt taxes <br /> <br />Last year's total taxes <br /> <br />Last year's tax base <br /> <br />Last year's total tax rate <br /> <br />This year's effective tax rate: <br /> <br />Last year's adjusted taxes <br />(after subtracting taxes on lost prope~ <br /> <br />+ This year's adjusted tax base <br />(after subtracting value of new prope~ <br /> <br />= This year's effective tax rate 0.710 /$100 <br /> <br />(Maximum rate unless unit publishes notices and holds hearings.) <br />This year's rollback tax rate: <br /> <br />Last year's adjusted operating taxes (after $ 11,875,966 <br />subtracting taxes on lost property and adjusting <br />for any transferred function, tax increment <br />financing, state criminal justice mandate, and/or <br />enhanced indigent health care expenditures) <br /> <br />$ 11,988,680 <br />$ 1,942,519 <br />$ 13,931,199 <br />$ 1,962,140,704 <br />0.710 /$100 <br /> <br />$ 13,805,197 <br /> <br />$ 1,942,590,597 <br /> <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 />= This year's total rollback rate <br /> <br />$ 1,942,590,597 <br />0.611/$100 <br />0.659/$100 <br />0.091/$100 <br />0.750/$100 <br /> <br />Statement of IncreaselDecrease <br /> <br />If City of La Porte adopts a2008 tax rate equal to the effective tax rate of $0.710 per <br />$100 of value, taxes would increase compared t02007 taxes by $993,388. <br /> <br />Schedule A - Unencumbered Fund Balances <br /> <br />The following estimated balances will be left in the unils property tax accounts at the <br />end of the fiscal year. These balances are not encumbered by a corresponding debt <br />obligation <br /> <br />Type of Property Tax Fund <br /> <br />General Fund <br /> <br />Debit Service Fund <br /> <br />Balance <br /> <br />$13,386,498 <br />$1,830,657 <br /> <br />Schedule B - 2008 Debt Service <br />