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<br />2009 Property Tax Rates in City of La Porte <br />This notice concerns 2009 property tax rates for City of La Porte It <br />presents information about three tax rates Last years tax rate is the actual <br />rate the taxmg unit used to determme property taxes last year. This years <br />effective tax rate would impose the same total taxes as last year if you <br />compare properties taxed in both years. This years rollback tax rate IS the <br />highest tax rate the taxing unit can set before taxpayers can start tax rollback <br />procedures In each case these rates are found by dividing the total amount <br />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 $100 of <br />property val ue <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 /> <br />(after subtracting taxes on lost property) <br /> <br />7 This years adjusted tax base <br /> <br />(after subtracting value of new property) <br /> <br />= This years effective tax rate 0.737/$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 $13,127,295 <br /> <br />subtracting taxes on lost property and <br />adjusting for any transferred function, tax <br /> <br />increment financing, state criminal Justice <br /> <br />mandate, and/or enhanced indigent health <br /> <br />care expenditures) <br /> <br />$13,716,980 <br />$2,0]6,551 <br />$15,733,531 <br />$2,215,990,282 <br /> <br />0.710/$100 <br /> <br />$15,19],363 <br /> <br />$2,060,287,540 <br /> <br />7 This year's adjusted tax base <br />= This years 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 />$2,060,287,540 <br />0637/$100 <br />0687/$100 <br />0.109/$100 <br />0.796/$100 <br /> <br />Statement of Increase/Decrease <br /> <br />If City of La Porte adopts a 2009 tax rate equal to the effective tax rate of <br />$0.737 per $100 of value, taxes would increase compared to 2008 taxes by <br />$95,747 <br /> <br />Schedule A - Unencumbered Fund Balances <br /> <br />The following estimated balances will be left in the unit's property tax <br />accounts at the end of the fiscal year. These balances are not encumbered <br />by a corresponding debt obligation. <br />Type of Property Tax Fund <br />--_.-.~---._--- <br />General Fund <br /> <br />Debit Service Fund <br /> <br />Balance <br />-------- - --- <br />$10,884,924 <br />$1,906,978 <br /> <br />Schedule B - 2009 Debt Service <br />