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NOTICE ABOUT 2020 TAX RATES <br /> Property Tax Rates in City of La Porte <br /> This notice concerns the 2020 property tax rates for City of La Porte. This notice provides information about two tax rates. The no-new-revenue tax rate <br /> would impose the same amount of taxes as last year if you compare properties taxed in both years. The voter-approval tax rate is the highest tax rate a taxing <br /> unit can adopt without holding an election. In each case,these rates are calculated by dividing the total amount of taxes by the current taxable value with <br /> adjustments as required by state law. The rates are given per$100 of property value. <br /> This year's no-new-revenue tax rate: $0.715 <br /> This year's voter-approval tax rate: $0.725 <br /> To see the full calculations,please visit ci.la-porte.tx.us for a copy of the Tax Rate Calculation Worksheets. <br /> Unencumbered Fund Balances <br /> The following estimated balances will be left in the taxing unit's accounts at the end of the fiscal year.These balances are not encumbered by corresponding <br /> debt obligation. <br /> Type of Fund Balance <br /> General Fund 59,073,139 <br /> Debt Fund 4,552,975 <br /> Current Year Debt Service <br /> The unit plans to pay the following amounts for long-term debts that are secured by property taxes.These amounts will be paid from upcoming property tax <br /> revenues(or additional sales tax revenues,if applicable). <br /> Description of Debt Principal or Contract Interest to be Paid from Other Amounts to be Total Payment <br /> Payment to be Paid from Property Taxes Paid <br /> Property Taxes <br /> General Obligation 1,350,000 192,300 0 1,542,300 <br /> Refunding Bonds Series <br /> 2012 <br /> General Obligation 920,000 126,300 0 1,046,300 <br /> Refunding Bonds Series <br /> 2014 <br /> Certificates of Obligation 385,000 160,838 0 545,838 <br /> Series 2015 <br /> General Obligation 0 94,050 0 94,050 <br /> Refunding Bonds Series <br /> 2016 <br /> Texas Water Development 500,000 116,491 0 616,491 <br /> Board Loan 2017 <br /> General Obligation 405,000 113,800 0 518,800 <br /> Refunding Bonds Series <br /> 2020 <br /> Total required for 2020 debt service 4,363,779 <br /> -Amount(if any)paid from funds listed in unencumbered funds 0 <br /> -Amount(if any)paid from other resources 0 <br /> -Excess collections last year 493,480 <br /> =Total to be paid from taxes in 2020 3,870,299 <br /> collect only 100.52%of its taxes in 2020 -20,022 <br /> =Total debt levy 3,850,277 <br /> This notice contains a summary of the no-new-revenue and voter-approval calculations as certified by Charlene <br /> Piggott,Tax Assessor-Collector on September 1,2020. <br /> 1016.1.13 <br />